Nick Loyal Publishes on Cost-Plus-Fee Contracts in CFMA's Building Profits
Stinson LLP attorney Nick Loyal recently published an article in the September issue of Building Profits, the Construction Financial Management Association’s (CFMA) magazine. The piece, entitled "Cost-Plus-Fee Contracts with a GMP: Issues, Risks & Solutions," outlines a number of benefits and risks associated with the increasingly popular contracts and offers solutions for owners, contractors and subcontractors as well as tips on avoiding such risks altogether.
“The same flexibility that allows these agreements to help with the delivery of certain project types or schedules can also lead to conflict and confusion about the total cost of a project if the scope and nature of responsibilities under the contract are not clearly delineated,” Nick writes.
In his practice, Nick represents construction professionals, developers and technology companies in courtrooms across the country helping protect their interests in a variety of construction, breach of contract and property damage disputes. He has deftly handled claims involving construction defects, payment claims, insurance coverage and subrogated insurance interests, and tirelessly works toward the best and most economically efficient outcomes for his clients.