Building a business from the ground up can be an incredibly overwhelming endeavor. And if you are truly building something from nothing, you are going to need the right construction company. And when problems arise, it is best to attempt to work out any odds that may arise between the construction company and any other parties involved.
Construction is a difficult but rewarding field to be in. It takes time, patience, precision, and a wealth of knowledge in the profession to get a project just right. Often, when it comes to disputes between construction companies and businesses, entities, or individuals that claim faulty work or wrongdoing, the misunderstanding is a result of a lack of comprehension of construction and everything that it entails.
When to hire a business litigation attorney
There will inevitably be times that confusion, misunderstandings, or disagreements arise during the building process or shortly thereafter. When this occurs, every attempt should be made to settle the dispute amicably and without the necessity for a business litigation attorney. Mediation is a good way to go, as it involves a non partial third party to help facilitate the discussions, but the process is non binding, and allows for the opportunity for both parties to reach a reasonable result that everyone is happy with.
But if you have found yourself in the middle of a dispute, and no such methods have resulted in a satisfactory conclusion, it may be time to find a business litigation attorney from a trusted construction law firm. Finding a lawyer for business owners in the construction industry can ensure a better outcome to a case that has moved from mediation to litigation, where the final decision, made by a third party after being presented with claims and evidence from both sides, is binding for all involved.
Finding the perfect solution for everyone
Companies that are seeking additions, repairs, alterations, remodeling, or brand new facilities do have a lot on the line, which is likely why these types of disputes with construction companies do arise. However, everyone’s rights are protected, and following the laws set in place for the purpose of the protection of those rights is in the best interest of all involved. For structures under some type of construction or renovation, builders risk coverage is typically in place for at least one year during the process. In the construction industry, the American Arbitration Association reports that alternative dispute resolution, or ADR, is the preferred method for handling conflicts. In this process, the median time that is spent on these cases, from the filing step in the beginning to wrapping up with the reward or final outcome is less than eight months.
Over the course of a year, the American Arbitration Association conducted over 500 cases within the construction industry that had claims of $500,000 or more. When it comes to mediated cases in the construction industry, the largest reward was $2.6 billion, while the largest arbitration case was $96 million. Of course, there is a wide range of case types, but generally, mediation is a good option if at all possible.
Building something brand new takes time, patience, and understanding. Working together for the good of all will always produce the most desirable outcome.