In this article, our Peoria construction lawyers explain some of the most important clauses in general contractor agreements and other construction classes.  We discuss the importance of a clear scope of work clause.  We explain the different types of contract prices including lump sum pricing, unit pricing, cost of work plus contractor’s fee, and time and materials.  We explain liquidated damages for delay in completion of construction contracts and describe how change orders work. Finally we explain payment bonds and performance bonds.  

Read the full article about construction contracts by our Peoria construction litigation lawyers.

In this video, our Peoria mechanics liens lawyers discuss the process of obtaining a mechanics lien in Peoria civil courts.  

We also explain the difference between private and public project mechanics liens and the differences between subcontract and general contract liens. We also help you understand the filing, notice, and enforcement duties and deadlines for a mechanics lien.

Read the full article on perfecting mechanics liens in Peoria by our Peoria construction lawyers. 

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In this article, our Peoria construction lawyers explain how Guaranteed Maximum Price construction contracts work.

In Guaranteed Maximum Price Contracts, also known as GMP contracts, the contractor can charge for its services in a variety of ways, including time plus materials, or a percentage of the overhead as profit. However, the total price of the contract is limited by the guaranteed maximum price.  If the contractor's final charges come in below the guaranteed maximum price the owner typically gets the savings. The contractor bears the risk of the price exceeding the guaranteed maximum price.  Our Peoria construction lawyers explain how allowances, change orders, contingencies, and schedules of values operate in guaranteed maximum price construction contracts.

Read the full article by our Peoria construction attorneys explaining GMP contracts.