Who is going to pay for my impact? A contractorEs ability to sue third parties for purely economic loss

Article Abstract:

Economic loss rule prevents contractors from pursuing third parties, such as architects, engineers and construction managers for delay or other impact costs resulting from their negligence. Care must be taken to anticipate attempts to dispel the additional risks associated with such claims. The intrusion of courts into the contractual framework bargained for by participants in a construction project by allowing extra-contractual claims for economic losses poses significant risks to the project owner.

Interpretation and construction, Third parties (Law), Pure economic loss doctrine, Economic loss doctrine

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Performance bonds: whatEs to say that the surety will perform?

Article Abstract:

The risk factors associated with the performance bonds issued by a surety for construction projects are delineated. It is advisable for any potential bond claimant to comply carefully with the provisions of the bond to avoid the risk of a defaulting contractor.

Financial management, Finance, Company financing

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Surety discharge due to changes (a somewhat mythical defense)

Article Abstract:

Defenses made on surety bonds under the circumstances where the projects participants fail to complete the projects due to the bankruptcy of contractor are discussed in detail.

Management dynamics, Analysis, Management, Company business management

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