Contracts form the backbone of many construction projects. Since many contracts will be executed before the project is even started, it is important that they are as detailed as possible. After all, what may seem like common sense to one party may be overlooked by the other party. To avoid these problems, those entering into a construction contract may want to keep the following suggestions on what to include in a construction contract in mind.
In 2017, construction activity hit record highs here in the Dallas-Fort Worth area. Since then, though, there have been declines in construction starts in the region. Such activity is estimated to have dropped 10 percent in 2018. And recent statistics from Dodge Data & Analytics indicate that this trend of declines is continuing into this year.