Construction BulletinGood News for Construction FirmsApril 8, 2020 The Treasury Department issued a formal guidance for the Paycheck Protection Program (PPP) yesterday that clarifies that companies are eligible if they meet the 500-employee threshold or the annual revenue limit, but not both. SBA had said that construction firms had to meet both to qualify, but AGC successfully persuaded the Treasury Department to change SBA’s decision. You can find the guidance … The Coronavirus and Your Construction Contract: Is Performance Excused due to COVID-19?March 17, 2020 The Coronavirus has brought uncertainty to all aspects of life. Business has no doubt been affected, and the construction industry is no exception. If you are a contractor with a major construction project underway (or about to begin), you are naturally asking yourself how the outbreak affects your project. What happens if performance is delayed by shortfalls in labor or materials caused by the… ConsensusDocs Offers Free Webinar on New Master Subcontract DocumentsJuly 23, 2019 Last week, ConsensusDocs released their new “master” subcontract agreement, along with a corresponding form “work order.” Generally, such master agreements allow contractors to negotiate legal terms in advance and then deal with project-specific terms in individual work orders. General terms like indemnification or dispute resolution, for example, can be negotiated and drafted up front.… The Opportunities and Risks of Opportunity Zone ProjectsMay 30, 2019 Investments are now coming into federal “Opportunity Zones.” The Opportunity Zone program, ushered in by the Tax Cuts and Jobs Act, allows various benefits for investors who reinvest capital gains in these federally designated zones throughout the country. The effect (in theory) is that investment will flow into these areas, which are typically low-income or underutilized, and new projects and… "Walking in a Winter Wonderland" - Freezing Weather - Are You Protected?March 7, 2019 “The coldest weather in a generation.” CBS Evening News (January 30, 2019)i. It is said that the only things in life that are certain are death and taxes – but if you are a construction contractor, or an owner with a tight completion schedule, add to that “bad weather.” However, cold temperatures and other severe, bad weather do not necessarily entitle the contractor to a time extension. What’s in… |
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