As Construction Litigation is becoming more prevalent in Nevada, it is important to be aware of the steps Handelin Law can take to help protect yourself.
Construction Litigation uses Construction Contracts that are different than Construction Liens; Construction Contracts do not use an all-encompassing Construction Lien whereas Construction Contracts include options for bonding and insurance requirements to protect Construction Lenders and Construction Contractors.
Construction Contracts may include Construction Liens as a part of the Construction Contract but Construction Contracts are limited to protecting Construction Lenders or Construction Contractors; Construction Contracts must be created with the individual project in mind, how much money is required for start-up costs, labor costs, investment costs (in Equipment, Materials, or Supplies), and time-lines.
Construction Contracts may be very detailed, depending on the Construction Contractor’s experience with a Construction Lender, but Construction Contracts can also stand alone without Construction Liens. Construction Loans are very important to Construction Contractors that require large amounts of money before wages can be paid out due to equipment, materials, or supplies being required to complete a Construction Project.
Construction Contracts require Construction Contractors and Construction Lenders to be very specific with how they choose their Equipment, Materials, or Supplies as well as time-lines of construction completion. Construction Contracts also have Construction Loan Time Limits within the Construction Contract so Construction Contractors may fall behind on Construction Loans which can result in Construction Lenders calling Construction Loans completely or Construction Contracts running out of time resulting in Construction Projects being abandoned.
Construction Contracts must be very specific about dates, deadlines, and equipment, materials, or supplies needed for Construction Projects to ensure Construction Contractors don’t fall behind on Construction Loans. It is important that Construction Project Managers follow the construction timeline or Construction Project Managers may find Construction Projects abandoned due to Construction Contractors falling behind on Construction Loans.
Construction Contracts also include Construction Project Milestones within the Construction Contract so Construction Lenders, Construction Contractors, and Construction Project Managers can ensure Construction Projects are completed in an appropriate amount of time depending on the parameters decided upon by Construction Lenders and Construction Contractors.
Handelin Law represents individuals and companies from a broad range of backgrounds and industries to prepare for any situation that may arise in the greater Reno or Carson City areas. We have extensive experience in state and federal courts in Nevada, are knowledgeable in diverse areas of law, and stay informed with the constant legal developments. We maintain close relationships with professionals in the real estate, accounting, investments, and insurance industries to ensure the best all-around representation for our clients. Call us or fill out our simple online contact form so someone from our courteous staff can schedule an appointment for you to discuss your matter with an experienced Nevada trial attorney.