As regular readers of this Blog know, contracts are extremely important for all parties involved in a construction project. While verbal contracts can be enforced, a written contract, which is finely-tuned to your specific project, can save you a lot of time and money later on if the proverbial poo hits the fan.

I recently read AIA’s take on contracts, in their Construction Risk Brief (which you should subscribe to [free] if you have not already). Their featured article is on “Best Practices for Construction Contracts”. In the piece, they discuss 7 key points to address in each contract. I concur for the most part, although want to point out that some of them (such as the regular monitoring and documentation bullet point) are deserving of their own post, as there is a *lot* that can and does go wrong during the construction administration phase.