In the world of construction, it is essential for both prime contractors and lower-tier subcontractors to carefully manage financial risk when negotiating subcontract agreements. While a party’s ability to distinguish and...more
Those familiar with the construction industry know that construction projects are seldom, if ever, completed within the time originally anticipated at the project’s outset. Fortunately, prime contractors and lower-tier...more
On January 20, 2025, President Trump signed an executive order entitled “Unleashing American Energy” (the Executive Order) aimed at reversing many of the Biden Administration’s clean energy and climate-related actions. The...more
Pay-if-paid clauses are conditional payment provisions regularly included in construction subcontracts. The intent of these clauses is to shift the risk of loss from a prime contractor to its subcontractors by making a...more
In 2023, the Private Contractor and Subcontractor Prompt Payment Act of 20131 (the Act) was amended to include additional protections for subcontractors on private projects by limiting a contractor’s setoff rights related to...more
For two consecutive quarters, the U.S. economy experienced an economic decline—typical indicators of an impending recession. Despite what the numbers may indicate, it is still unclear what direction the U.S. economy may...more