Robinson+Cole’s Construction Industry Group lawyers have extensive and broad-ranging experience serving the construction industry, and enjoy national reputations for their work. The Group regularly performs front-end risk reviews of design and building delivery documents for lenders. We have experience structuring business transactions among lenders, borrowers, design teams and builders. We also counsel financial institutions in connection with the resolution of construction-related claims.
The Construction Industry Group can explain the differences between project delivery systems and the key components of a design or construction contract related to the security interests of a lender. We routinely work with and are thoroughly familiar with the American Institute of Architects (AIA), Consensus Docs and other industry standard forms of agreement. We advise on developing custom forms of agreement that reflect our client’s own business models and risk profiles.
Also, we can educate lenders regarding the various ways in which to structure the business deal between the borrower, design team and constructors, including the basis for payment. The Group’s knowledge of lien laws and familiarity with construction bid, performance and payment bonds and Subcontractor Default Insurance can assist in the construction loan closing process. In addition to being of service in connection with a particular construction lending transaction or Project, we have presented in-house seminars and webinars and prepared compendiums on a wide variety of construction, surety and insurance related topics.
On a troubled project, we can counsel financial institutions in connection with the resolution of construction related claims. Some of the services we have provided lenders in the past include the negotiation of inter-creditor agreements with contract sureties and the enforcement of indemnity and other risk transfer rights under the design and construction contracts. We also can provide our financial institution clients with access to construction industry experts with knowledge of today’s building processes and technologies.