Payment Provisions in Construction Contracts: Drafting Strategies | Practical Law

Payment Provisions in Construction Contracts: Drafting Strategies | Practical Law

A Practice Note providing guidance on drafting payment provisions in a construction contract to ensure both timely payment to a contractor or construction manager, and protections for the owner so payment is only made for work performed and the project remains free of mechanic's liens. This Note identifies key drafting considerations for the owner and highlights how payment provisions differ in standard industry form documents.

Payment Provisions in Construction Contracts: Drafting Strategies

Practical Law Practice Note 1-568-1506 (Approx. 33 pages)

Payment Provisions in Construction Contracts: Drafting Strategies

by Practical Law Real Estate
MaintainedUSA (National/Federal)
A Practice Note providing guidance on drafting payment provisions in a construction contract to ensure both timely payment to a contractor or construction manager, and protections for the owner so payment is only made for work performed and the project remains free of mechanic's liens. This Note identifies key drafting considerations for the owner and highlights how payment provisions differ in standard industry form documents.