7 Contract Provisions to Avoid Loss of Liquidity in Construction Business, Apart from Force Majeure

The outbreak of novel coronavirus has not just caused damage to the business by halting the work at sites but increasing the struggle for the contractors and construction firms. With the suspension or termination orders by the authorities, the construction sites were forced to close. However, the need to keep up with payrolls, loan installments, safety expenditures, etc. made it extremely difficult to retain cash flow.

Since ProjectPro is a project management software in construction, we have developed a list of 7 contract provisions under which construction firms could resist liabilities charged by project owners due to delay. These provisions will guide the contractors through the legal process to avoid any penalties in light of the natural and unforeseen disaster.