Commentary – What will be the Construction trends in 2023

Our end of year newsletter covered a lot of ground.

First we looked at the market conditions for end-of-year for 2022. Then we considered which of those conditions were expected to have the greatest impact on the industry.

We closed our newsletter with a look at what trends we expected to see in 2023. Here is what we expected.

Industry Watch – Pay-When-Paid – A Common but Illegal Term that Exists In Most Construction Contracts.

General Contractor should not rely on the Owner’s contract to define the terms and obligations between the Contractor and his subcontractors. Rather, the GC should specifically state any and all of their sub-contractor terms (including payment obligations) independently of the Owner’s obligations to the GC. The Contractor should adhere to those terms independent of what may or may not be happening between the Contractor and the Owner.