Construction Management Agency: Not at Risk?

As in-house expertise declines, public and private owners of construction projects are increasingly outsourcing the management and administration of their construction projects to professional construction managers-agents. Use of professional construction managers can help protect owners from liability to other project participants because construction managers are often more knowledgeable and better qualified than an owner's personnel to properly address claims.
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OTHER ON-DEMAND WEBINARS

Commercial property yearly round-up

LexisNexis

In this webinar, our commercial property experts will provide you with an overview of all the developments in the field in 2018.
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Remodeling and Inflation Webinar Replay

In this insightful building products webinar, Todd Tomalak and Matt Samson share historical data on past housing cycles and how they compare to today’s housing market.
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Structuring Landlord Lien Waivers and Collateral Access Agreements

In construction loans, the lender advances a small portion (or none) of the loan at closing since the proceeds are intended to fund construction costs as incurred. The conditions for advancing funds are often complicated because there are three participants--the lender, the borrower, and the contractor--and in part, because actual costs may vary from the construction budget. Most construction loan agreements provide for shifting cost savings for one item to another item in the budget. Construction budgets will usually incorporate "contingency" to be applied by the borrower to pay for cost overruns for items in the budget, subject to certain conditions. Documents must provide for retainage for unforeseen costs to ensure the completion of the project. A construction loan is unique for title insurance because disbursements are made post-closing, and property increases in value with each disbursement. Title insurance must be in place to cover the loan amount as it is funded. Counsel to the lender must structure the loan to ensure the priority of advances and procure title insurance (including appropriate endorsements at closing) consistent with that priority. Also, the borrower will typically need to obtain lien waivers or lien subordination as disbursements are made. Listen as our authoritative panel discusses the construction loan funding process and the need for increasing title insurance coverage as funds are disbursed. The panel will discuss budgeting and construction draw provisions in loan agreements, future advance clauses, and other practices for preserving the senior position of the mortgage over mechanic's liens and the title endorsements to obtain at closing.
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What Specialty Contractors Want You to Know About Procore

Procore

No matter what your specialty is, Procore was built for specialty contractors who need an easy way to keep their teams safe, on schedule, and on budget. But you don't have to take our word for it.
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