The $46 million school renovation project of Dracut High School in Northeastern Massachusetts may provide signs that the construction economy is finally improving. Since the 2008 financial crisis, governments have found great deals for their construction projects. With construction companies vying for work, public projects let out for bid have generally received numerous bids, often times well over […]
Over the last four years we’ve all had to deal with the funding crashes that followed the 2008 financial crisis. In those four years, many have also learned the difference between pay-if-paid clauses and pay-when-paid clauses. But what is the difference between the two, when should each one be used, and why should it matter […]
An age old story in construction is as follows: the owner doesn’t pay the contractor, and a subcontractor, who has performed its work diligently and according to its contract, doesn’t get paid either. Most of these situations arise because the subcontract contains “pay when paid” or “pay-if-paid” clauses. These clauses shift the risk of nonpayment […]
