Earlier this month I spoke at the Louisiana State Bar "Building for Success: Construction Law 2024" seminar held in New Orleans. During the topic Building Strong Agreements: Navigating Construction Contracts and Key Clauses, Jones Walker partner Victoria Davies and I described the key construction clause contracts that owners, general contractors, and subcontractors should carefully consider at the outset of every project to control and allocate risk.
Here are my top three takeaways:
- Parties should approach contract negotiations with a win-win mindset – improper risk allocation is more likely to spark costly disputes.
- Bad projects are typically bad for all – the owner, general contractors, and subcontractors alike typically do not get the results they forecasted.
- Key clauses for a contract include: indemnification, limitation of liability, no damages for delay, dispute resolution, liquidated damages, change orders, and termination.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
