Who Pays for the Unexpected in Construction?
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by Melvin I. Esrig, Woodward-Clyde Consultants, Wayne, United States,
Douglas C. Moorhouse, Woodward-Clyde Consultants, Wayne, United States,
Document Type: Proceeding Paper
Part of: Preparing for Construction in the 21st Century:
Abstract: Unexpected events of major concern result from voluntary risks taken by one or more of the parties to a construction contract. The party taking the risk should reap the reward or pay the cost. Unexpected risks cannot be shifted among the parties without cost. Contractors cannot be expected to take risks for the benefit of the owner. The owner must pay the fair cost of construction.
Subject Headings: Risk management | Owners | Construction costs | Contractors and subcontractors | Construction industry |
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