Consensus: More contractors forced to take on greater financial risks on projects

10/30/2013 | Engineering News-Record

More contractors are being forced to take on a greater financial risk for projects as owners demand more burdensome terms in their contracts, according to speakers at the Construction Financial Management Conference co-sponsored by the Associated General Contractors of America and the Construction Financial Management Association. Contractors, therefore, must remain alert about new risks such as "slippery language," writes Tony Illia. "It's important to protect yourself and RTFC: Read The Freaking Contract," says Frank Riggs, co-chair of Troutman Sanders LLP's Construction Practice Group.

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