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TERMINATING A CONSTRUCTION CONTRACT: LEGAL ISSUES AND CONSIDERATIONS

April 18, 2019 | (1:00 - 2:30 pm)
USA (United States of America)
Sometimes your only option left is to terminate the construction contract on a project. Perhaps every chance at dispute resolution has failed. Maybe the material breaches by one party will never be resolved by remedies or damages recoverable under the contract. Subcontractor liens on the project have caused irreconcilable differences between the owner and general contractor. Whatever the reason prompting termination of a construction contract, there are a number of legal issues and considerations to keep in mind. Termination, after all, affects everyone on the project. This topic will address contract termination from the perspective of owners, developers, contractors and design professionals, discuss the risk of terminating a construction contract and why it is legally a last resort, look at contract clauses and terms that specify termination rights and remedies, and identify the best way to terminate a construction contract. Case examples will be provided to consider under circumstances familiar to all working in the construction industry.