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The Impact of Coronavirus on the Construction Industry (DR)
Owners, contractors and suppliers are concerned about the potential results of the COVID-19 pandemic, including project delays from lack of availability or delay obtaining materials, unusual labor shortages, manufacturing and supply chain disruption and the potential cost impact of these delays or substantial labor or material price increases. To what extent are you exposed to these dangers? How can contractors and suppliers protect themselves from liquidated or other delay damages? How can they successfully recover such cost increases? The answers to these questions are found largely in the terms of the contract already in place for on-going projects. How protective is the force majeure clause in your contract? Which projects should you be particularly concerned about? Jim will review common contract clauses and their impact on these issues. This webinar will also provide some pertinent contract provisions that you can add in future projects to protect yourself, increase the chances of recovering price increases and strategies for dealing with customers unable to pay you during the pandemic.
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