Minimize Risks In Contractor Dispute Settlement Agreements

Disputes between contractors, subcontractors, and/or owners are relatively common in the construction industry. Although you should not appear over-eager in rushing into a settlement to avoid the time, costs, and stress that come with protracted litigation, when settlement appears likely and in your company's best interests, full attention to reaching a mutually agreeable resolution should be given. Tip: If a case has already been filed, consider asking the court to "stay" (i.e., pause) the case via joint motion to allow the parties to remain focused on reaching a settlement.

Although you should remain involved, engaging a lawyer early on in a dispute or anticipated dispute to lead the process can reduce stress and save time and money in the long run. Don't make the proverbial "penny-wise, pound-foolish" mistake.