One of the biggest risks contractors and subcontractors face on construction projects is liability for consequential damages, although many of them may not even know about that risk, much less understand it. Consequential damages are damages which flow indirectly from a breach of contract and are typically related to delays in performance and delays in completion of a project. Such damages can be huge. In fact, it can represent a bet-the-company risk. However, many contractors and subcontractors enter into contracts every day without even knowing the risks they face with respect to such damages. It is important to ensure that your clients know, understand and evaluate this risk on every project. Click here to read the article.

December 3, 2020/by Construction