Construction Contracting Business and Legal Principles

Exceptionally practical and authoritative, this introduction to construction contracting as it applies to typical, every-day situations explains theoretical ideas in terms of what really happens in practice.* Reflects the authors extensive experience as an educator and in the contracting field at virtually every position - from junior engineer to Executive Vice President and Director of a major national construction contracting company. * The author has personally experienced in practice every concept covered. * Examines the more common case law holdings and the customs and practices of the industry. * Relies on case law extensively to explain and illustrate how courts/boards/arbitrators view the typical legal problems that occur in contracting practice. * Presents the clear contractual basis of the normal relationship of the various parties to the construction process in the United States today. * Explains how to read and identify the key or red flag clauses in prime contracts for the provision of construction services. * Systematically examines a number of construction-related contracts common to the industry (other than the prime construction contract), e.g.: * Labor agreements. * Purchase orders and subcontract agreements. * Insurance contracts. * Surety bonds. * Joint venture agreements. * Offers extensive treatment and examination of the bidding and proposal procedures in common use in the U.S. today, and a thorough discussion of the procedure and practice followed in the event of mistakes in bids. * Provides an in-depth examination of the operation of the more important of the key clauses in construction contracts, including: * Breach of contract. * The changes clause. * The differing site conditions clause. * Delays suspensions and terminations. * Liquidated damages/force majeure/time extensions. * Covers the theory and application of methods of allocation of responsibility for construction delays, and the application of the Doctrine of Constructive Acceleration. * Examines the common methods of dispute resolution in use in the construction today. * Provides extensive chapter-end questions and problems - some complex - that help develop students understanding in the context of typical industry situations.