In this article, our Wheaton 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 and also explain the different types of contract prices, including lump sum pricing, unit pricing, cost of work plus contractor’s fee, and time and materials. Additionally, 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 Wheaton construction litigation lawyers.

In this article, our Wheaton construction law attorneys explain condominium laws and common types of law that may arise for both tenants and owners.

It's important to note that condominium associations have the responsibilities imposed upon a not-for-profit corporation by the Not For Profit Corporation Act, whether or not the association is incorporated.  To the extent that the Not For Profit Corporation Act conflicts with the Condominium Property Act, the Condominium Property Act controls with respect to condominium associations.  

Read the entire article by our Wheaton construction law attorneys.

In this article, our Wheaton 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 Wheaton 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 Wheaton construction attorneys explaining GMP contracts.