When negotiating a contract in anticipation of a major construction project, you cannot afford to take unnecessary risks. You need to know that you are making informed decisions, and you need to be confident in the protections that you have in place. This is true regardless of your company’s role in the project—from property owner to surety and developer to subcontractor to material supplier.

Protecting your rights while building a project may involve contract defaults, contract termination issues, materialmen’s liens, payment bond claims, delay damages, and even litigation. At these times, informed decision-making is critical. You need to formulate a strategy focused on protecting your business to the fullest extent possible and execute this strategy as efficiently as possible. Missteps can prove costly, and, in some cases, they can set the stage for more challenges.