Stoel Rives LLP
10/20/2021 | News release | Distributed by Public on 10/20/2021 15:13
‘Project Float’: Who Owns it and What Should Be Done About It?
Construction projects are complex and often experience delays. The party responsible for the delay can find itself subject to potentially severe consequences. There are various ways project owners and contractors can cause project delays, and each party wants to "own" the project float to be able to apply the project's extra schedule time toward its own delays and avoid potential liability. Courts have grown increasingly sophisticated in determining how much and to which parties float should be allocated in disputes over delays. In my article for the Daily Journal of Commerce, I examine the question of who owns the project's float and discuss "float-sharing" and "float-allocating" clauses, for which owners and contractors often negotiate in their contracts to protect themselves against construction delays. Read the full article here.