Tuesday, November 1, 2022

Member Exclusive: Addressing the Risk of Completion of a Previously Abandoned Pool Project

An excerpt from the article, written by Attorney Jim Dickson:

"Completing a Project abandoned by a prior contractor may be a risky venture in any setting for a new contractor. In the arena of residential pools, the risk may be higher than in a commercial project due to the normal limits in understanding of issues by the typical home owner. Such owners will likely have had a budget based on the original contract with a lump sum price and expect that the completion costs will be within the original projected price. The abandonment of the Project will have delayed completion and inherently increase the price due to ongoing price escalation of labor and materials. The owner is not likely to understand these impacts on price. Further, any contractor that takes over the Project is taking a greater risk then if it had performed all of the Work and will need to price that risk."

Read the rest of the article by clicking here.