Understanding Your Options when Entering Into a Construction Contract
Post date
February 24, 2023
Body
Aaron S. Evenchik and Jeffery A. Yeager, Hahn Loeser & Parks LLP
Owners and contractors should be knowledgeable in the various contract forms and their associated risks. Among the most common construction forms are 1) lump sum, 2) cost plus a fee and 3) the hybrid, cost plus a fee with a guaranteed maximum price. Each allocates risk differently and has different benefits for the parties.