July 23, 2024
Client-generated contracts often include onerous cost-recovery provisions that exceed the normal legal liability of firms in their provision of professional services. Few contracts are balanced, fair, and focused on a productive relationship. And some firms succeed in adding provisions that protect their business interests and reduce their professional liability exposures. The standard AIA B101 includes ten valuable provisions that confine the exposure of the architect; in the B103 there are at least a dozen. The EJCDC E-500 includes options for many more ways to cap the exposure of the engineering firm.
In this webinar, Frank Musica and Mika Dewitz-Cryan, Victor risk management consultants, discuss the uninsurable and often unmanageable exposures clients create and, using claim examples, show how using standard protective contractual provisions can keep design firms from gambling their futures while performing their services.