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In light of recent disputes, international construction firms are rethinking how they draft force majeure and price escalation provisions to better address tariff-induced cost increases. While traditional force majeure...more
As the Trump Administration’s tariffs are now in effect, owners, developers, and contractors managing pending construction projects face questions about who is ultimately responsible for impacts (both time and cost) resulting...more
Hurricane Ian’s unprecedented size and strength is taking a major toll on the state of Florida and other areas in the southeast United States, which is likely to cause impacts to the construction industry. Akerman attorneys...more
While an increase in construction costs for materials is not new to the industry, the extent of the cost increases during this COVID-19 time may be beyond anyone's experience. Prior to COVID-19, material costs have spiked for...more
On January 14, 2021, Skadden and BDO Consulting co-hosted a webinar discussing the impacts of COVID-19 on complex construction projects. The program was based in part on the perspectives of owners and contractors surveyed by...more
As the wave of reopening orders sweeps across the country, businesses see a light at the end of the tunnel. That light, however, in many instances is still yellow, and may be so for some time to come. ...more
When trying to understand the full impact of COVID-19 on existing contractual obligations, parties will likely first consult force majeure provisions in their contracts to assess their rights or liabilities for continued...more
As the coronavirus/COVID-19 pandemic continues to spread and the governmental and private sectors formulate their responses, it has become apparent that the associated economic impacts will be significant and affect all...more
As the COVID-19 virus continues to spread, developers, contractors, and subcontractors are increasingly seeing their ability to perform impacted directly or indirectly by its effects on the economy. From supply chain issues...more
As coronavirus (COVID-19) continues to disrupt lives and businesses, it is important to consider how it may affect your real estate, construction, and supply businesses. Every situation and contract will be different, so it...more
The coronavirus has disrupted the economy and business activity, making it difficult or challenging for some parties to honor their contractual obligations. In fact, it is apparent that parties are terminating their...more
Globally, many developers and contractors are scrambling to identify available contractual relief as the Coronavirus (COVID-19) disrupts cross-border supply chains. US businesses will recall a similar effort just eighteen...more