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November 3, 2011

Time to pay attention to pay-if-paid clauses

  • Subcontractors should watch the wording of their contracts in case general contractors encounter payment issues from owners.
    Pillar Law

    In today's economic climate, most subcontractors are excited just to submit a bid for a large job. General contractors are being pressured as well, as the volume of large jobs has decreased and the number of bidders increased.

    As a result, owners have significant leverage in negotiating contract terms and prices. And, when a general is awarded the project, the general has significant leverage with subcontractors.

    . . .

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