Make sure your contingencies address risk to avoid disputes between the owner and contractor.
As part of the calculation of the GMP contractors will often add a contingency amount to cover various risks which could affect the costs of construction. To provide an incentive to the contractor to avoid using the contingency there can be shared savings of contingency amounts between the owner and contractor. This video reviews different types of contingencies and their use; as well as contingency provisions.
Agenda
Faculty
Samuel H. Levine
Bryce Downey & Lenkov LLC
- Attorney in the Construction Law Group of Bryce Downey & Lenkov LLC
- Practice covers a broad spectrum of activities in the areas of construction and real estate litigation including construction disputes, mechanics liens and bond claims, real estate title disputes and bankruptcy matters
- Represents owners, prime contractors, secondary subcontractors and lenders in construction disputes
- Illinois Super Lawyer in the area of Construction Litigation 2006; 2010-present
- Tried and arbitrated construction, foreclosure and real estate related litigation cases
- Written and spoken extensively on a variety of topics relating to construction law, bankruptcy and other real estate related topics
- An arbitrator of mechanics lien cases as part of the Cook County, Illinois mechanics liens pilot arbitration program
- J.D. degree, Chicago-Kent College of Law; B.A. degree, Washington University in St. Louis
- Can be contacted at [email protected]
Justin L. Weisberg
Schuyler, Roche & Crisham, P.C.
- Partner with Schuyler, Roche & Crisham, P.C.
- Practice focuses on construction law and commercial litigation
- Represents private, public, local, and international clients in a variety of construction-related transactions and litigation matters
- Experience has included contract negotiation and drafting of design, design build, IPD, P3 and construction contracts as well as mediation, arbitration and litigation including both bench and jury trials of numerous disputes involving design, construction and insurance coverage matters
- Registered professional engineer in both Illinois and Florida allows him to utilize his previous engineering experience in his law practice to provide ongoing project counseling to clients
- J.D. degree, Chicago Kent College of Law; B.S.E. degree, University of Illinois
- Can be contacted at [email protected]
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