Among the many difficulties posed by the construction industry’s continued supply crunch, contractors are starting to face some challenges dealing with payments and performance bonds. With project delays more and more common due to the lack of materials, this is fast becoming an issue that many contractors don’t know that much about, said legal expert Trent Cotney, partner at Adams and Reese.
“Contractors are not aware of a problem until it happens. And then they’re surprised and shocked,” Cotney said in the latest Legal Insights video chat with WC. “We’ve seen it in at least a dozen recent projects… so I’m seeing a consistent theme.”