Transforming Contract Review and Markup: Dan Broderick on Constructed Futures
In a recent episode of the Constructed Futures podcast, host Hugh Seaton sat down with Dan Broderick, co-founder and CEO of BlackBoiler, to discuss the company’s patented software and its groundbreaking impact on contract review and markup within the construction industry. Read on for a summary of their conversation. Automating Contract Review and Markup BlackBoiler […]
How to Get More Attorneys to Adopt AI
Despite all the hype over ChatGPT and generative AI, the fact remains that lawyers largely have not adopted these tools into their typical workflows. Research released last month from Thomson Reuters showed that just 3% of respondents at law firms are currently using generative AI, while a third (34%) said their firm was still considering […]
Flowers are Blooming, and Construction is Booming
Spring has sprung! The sun is shining, and the birds are chirping, which means only one thing… construction projects are ramping back up and so is construction contracting. According to the U.S. census, construction spending during the first two months of this year totaled $260.8 billion, 5.9 percent above the $246.1 billion for the same period […]
The 3 Stages of Construction Contract Review
Construction contract review requires constant cycles of negotiation. Agreements between contractors, subcontractors and owners that describe the work to be carried out and payment terms are essentially reviewed three times, at the bid (pre-contract) stage, the negotiation (pre-execution) stage, and again during performance, with contract amendments continuing as the project is underway. This three-fold review […]
Contract Language to Help Mitigate Common Construction Risks
Construction is an industry that comes with various risks, not just to workers, but also owners and contractors. From delays to an evolving scope of work, material prices, and safety hazards, contractors face many challenges. However, by including contract clauses and specific language that addresses these risks and outlining how they will be handled, it’s […]
The Future of Pay-if-Paid Clauses in Construction Contracts
Payment provisions are one of the stickiest areas in construction disputes. Many states have developed laws addressing project payment timeliness, including prompt payment and retainage regulations. However, pay-if-paid clauses condition a subcontractor’s claim to compensation on the general contractor’s obtaining money from the owner. Pay-if-paid construction contract clauses are losing favor, and the most recent […]
The Six Most Common Construction Contracts
Construction contracts set expectations and requirements to protect everyone involved and can be structured to meet the specific needs of a project, since details vary so greatly. There are several types of common construction contracts that contractors should be prepared to interact with on a consistent basis. With so many contracts to keep track of, […]
The Definitive Checklist for Construction Contract Review
Six steps to follow to ensure every construction contract is successful Reviewing contracts can seem like an overwhelming task, especially when contracts can seem to pile up. In construction, there are often multiple contracts in different stages that need to be managed at the same time. There are many details that are specific to each […]
Using a Contract Playbook to Increase the Speed of Business
Typically, the buildout of a contract playbook requires many hours of work from a number of professionals within an organization. A playbook helps to frame a company’s contract negotiation tactics and procedures. This process typically involves stakeholders from across the company. Playbooks are used by myriad professionals – from lawyers and paralegals to contract managers, HR, procurement, […]
