Owners and contractors have two choices for the type of contract and agreement to use: fixed price or cost-plus. Both types of contracts have their advantages and disadvantages, but let's look further ...

Before starting any home renovation project, legal experts say homeowners should take the necessary legal precautions to avoid costly disputes. That starts with a solid construction contract. “A ...

Engineering, procurement, and construction (EPC) contracts are agreements in which a contractor is given major project responsibilities under a single contract established with an owner or developer.

Claim notice provisions in construction contracts are common. In fact, many standard form construction contracts usually contain these types of provisions. These provisions are often implicated as the ...

Surety construction bonds are a fact of life if you work in the building industry. Government projects and much private-enterprise construction require you take out a surety bond to get the job. This ...

A type of construction contract under which the construction firm is obligated to complete a project according to prespecified criteria for a price that is fixed at the time the contract is signed.