Any Lien referred to in this Agreement or any of the other Credit Documents as having been created in favor of Agent, any agreement entered into by Agent pursuant to this Agreement or any of the other Credit Documents, any payment made by or to or funds received by Agent pursuant to or ...
In this case, contractors charge an hourly rate for labor and for materials as needed. Because this leaves uncertainty, these contracts must be specific and prepare for almost anything. An owner should include incentives for construction projects completed ahead of schedule and/or under budget. A ...
one side to outright pay the other, and it doesn't force the parties to carry on as if nothing ever happened. Under reformation, the agreement is "reformed" — meaning the agreement will be reinstated, though the obligations and duties of the parties will be altered from the original ...
3. Financial Protection: For project owners, LD serves as a form of financial protection. Delays in construction can lead to additional costs, such as extended financing charges, increased labor expenses, and lost revenue opportunities. With LD provisions, project owners have a predefined method ...
Or implement a Resource-Oriented Scheduling technique that will assure labor, equipment, and materials flow like water? In the case of Spot’s new abode, tried and true tools, including a sharp pencil, a few sheets of paper, and a tape measure, should suffice. But commercial construction ...
However,escalation clauses often work both ways, meaning that if the prices of materials or labor decrease, the savings are passed on to the client. So in addition to benefiting from lower bids,the client receives the potential benefits of market volatility along with the transfer of downside ...
As such, we can only surmise the overall meaning of digital construction before proceeding with specific details. Digital construction is a process of improving different stages of a construction project by using various digital tools and/or applications throughout the project’s creation. In the mos...
American conservatives tend to favor strict construction of the Constitution. Design A particular plan or method The party's design for increasing voter turnout. Construction The meaning or interpretation of a text, action etc.; the way something is viewed by an observer or onlooker. Design The ...
JBPA Faced Labor Shortages and Outdated Systems This talent drain affects all contractors, but for the Canadian construction firm, it threatened to magnify an infrastructure problem in Ottawa, Ontario, where most of its projects are based. Ottawa is growing fast — the city expects to welc...
For example, a subcontractor doing electrical work on a strip mall or housing development who goes unpaid for their efforts can then file a lien on that property. The lien provides the subcontractor with an interest in the property itself – meaning the property can’t be transferred or sold ...