All construction project owners, lenders, and contractors take note: a recent federal court opinion offers a reminder that additional obligees on a performance bond must comply with all conditions precedent in the bond in...more
As explained in a prior update, Virginia recently enacted laws prohibiting pay-if-paid clauses in construction contracts and limiting the effectiveness of pay-when-paid clauses in certain agreements for public and private...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
On April 27, 2022, Virginia Governor Glenn Youngkin ratified amendments to two Virginia statutes, prohibiting pay-if-paid clauses in construction contracts, and limiting the effectiveness of pay-when-paid clauses in certain...more
Construction owners and contractors in Georgia rely heavily upon the statutory protections provided by Georgia’s mechanic’s lien waiver law, O.C.G.A § 44-14-366. Beginning January 1, 2021, these protections will be narrowed...more
The coronavirus (COVID-19) pandemic has shut down non-essential construction projects in numerous states, and has severely delayed or otherwise impacted construction in almost every other state. These delays and impacts may...more
5/14/2020
/ Adverse Action ,
Business Interruption ,
Construction Contracts ,
Construction Project ,
Contract Terms ,
Coronavirus/COVID-19 ,
Delays ,
Government Shutdown ,
Lenders ,
Loan Agreements ,
Performance Standards ,
Real Estate Development
With coronavirus interrupting the construction industry, Akerman attorneys offer guidance on how to respond to notices of construction schedule delays and supply chain impacts from contractors and suppliers.
Originally...more
Drafting Construction Contracts to Address Potential Risks and Impacts from Infectious Disease-
Parties to large commercial and residential construction projects typically enter into complex contract agreements that lay...more