| LICENSING EXEMPTIONS |
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| In most states, contractors, architects, and engineers are required to be licensed in order to perform construction work. Some states have enacted statutes that provide exemptions for license requirements. However, these exemptions are extremely limited and are strictly interpreted by the courts. More... |
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| Assurance of Owner's Financial Security |
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| An owner's financial security can greatly impact his ability to fulfill his obligations under a construction contract. Most critically, a contractor's payment for materials and services can be jeopardized. For the protection of the contractor, provision can be made in the parties' contract requiring the owner to present reasonable evidence of his financial stability and ability to carry out his duties under the contract. More... |
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| Modifying the Contract of Surety |
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| Before beginning work on a construction project, contractors are frequently required to obtain a surety bond that will ensure the completion of the contractor's duties under the contract. However, the parties can expressly agree to waive such provision. Additionally, the owner can waive the necessity for the bond by implication either through his words or actions. More... |
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| Time for Contractor's Performance |
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| The time in which the contractor must complete his work on a project is normally stated in the construction contract. However, not all contracts express the timeframe the same way. For instance, some contracts may require the contractor to complete his performance in a specified number of calendar days from the date of commencement while others require completion in a given number of working days. More... |
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| Patents and the Construction Industry |
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| A patent grants its owner the right to make, use, and sell the patented invention to the exclusion of others. In the construction industry, both utility patents and design patents can mean substantial profits to the builders or contractors who hold them. More... |
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