103: 7 Construction Clauses That Can BREAK Your Project!!|bopurbo

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https://www.wsj.com/articles/behind-t...

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Seven 7 construction contract clauses that pose special challenges for contractors.

1. Reasonably Inferable
2. Pay if Paid Clause:
3. Right to Withhold Payment
4. Indemnify, Defend, and Hold Harmless
5. No Damages for Delays
6. Lien Release:
7. Liquidated Damages

In this video we outline the clauses how to recognize them and what you can do to avoid them.

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Timestamps
• 00:00 Start
• 01:23 Today's Topic
• 06:34 Escalation clauses
• 08:58 Tax Exemption
• 10:50 1. Reasonably Inferable
• 14:28 2. Pay If Paid
• 16:58 3. Right to Withhold Payment
• 21:21 4. Indemnify, Defend and Hold Harmless
• 25:02 5. No Damages for Delays
• 28:37 6. Lien Release
• 31:22 7. Liquidated Damages
• 32:45 Some other things
• 33:38 What I learned a really hard way is...
• 37:31 Can you be more specific with Lien Release
• 42:32 How are you so upbeat?
• 45:51 I'm a great artist
• 46:26 My "Claim of Lien"
• 47:30 How was the labor shorts affecting construction contracts that...
• 48:40 Is there a resource that can help us develop proficiency in reading
blueprints?
• 52:29 Importance of showing up
• 01:00:06 This knowledge can save thousands of dollars
• 01:02:03 I really was afraid to share this information
• 01:03:56 End

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Video Credit : Eric Coffie

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