AEC INDUSTRY
Importance of General Conditions in a Construction Project — AEC Industry
Learn about the must-have clauses in a general condition of a construction project for the AEC industry
General Conditions lay the groundwork for the entire contractual framework in construction projects in the AEC Industry. These clauses set the stage for how parties interact, defining their rights, responsibilities, and the rules of engagement throughout the project lifecycle.
If you’re the owner of a construction project in the AEC Industry, and you’ve just signed a contract to build a state-of-the-art office building. The General Conditions within the contract will determine key aspects such as project timelines, payment schedules, and risk allocation.
Risk Management and Allocation
The AEC industry is known for its uncertainties in every stage of the project and therefore effective risk management is critical.
General Conditions act as the compass, guiding stakeholders through potential pitfalls by clearly outlining how risks will be identified, managed, and allocated.
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