As construction contracting has become more complex, agreements require a more extensive review of interrelated terms and conditions and an understanding of the language. Key areas of risk in a contract include indemnity, insurance, limitation of liability for performance, schedule/delay, differing site conditions, hazardous material, owner changes, design responsibility, warranty, force majeure, payment, substantial completion, contingency, default/termination and means of dispute resolution.
Risk managers are often trained to simply review “insurance language.” While assessing individual insurance clauses is important, a comprehensive knowledge of all terms and conditions within a construction contract is of even greater importance. Druml Group personnel have specific experience in the construction industry and a clear understanding of the language in contracts and particular exposures. Consider us your source for interpretation and explanation. We would be happy to save you the legal fees.