The Dotted Line: How Will Clients Approach Contracts Post-Pandemic?
Rich Reizen, Chair of Gould & Ratner's Construction Practice, talked to Construction Dive about how owners might change their preferred contract delivery methods or, at the very least, the terms to help them decrease risk and maximize flexibility. Certain owners will have post-pandemic concerns that include:
- The possibility that their projects might stop and start because of government shutdown orders, jobsite worker illnesses, their finances or those of contractors and workforce and supply chain interruptions.
- Decreased demand for the space or scope of the project they originally intended.
- Up-to-date medical guidance that may suggest design changes to make the final project more resilient.
- Major disruptions in the insurance and bonding markets, limiting coverage for future pandemics.
Rich also noted that, "while there are numerous issues with each one of those factors, the bottom line is that the owner will want the flexibility to suspend, cancel or change the project.”
Read the full article here.