Starting your own firm is a challenge; structuring it to survive is a formidable task. Architects contemplating starting their own professional practices as well as those who have created their firms recently need to know the practical, professional, ethical, legal, and insurance issues that a new firm faces. You can now learn what you need to […]
Business Coverage / Professional Liability Articles
Clients of architecture firms are increasingly mandating “prevailing party” contractual provisions that allow the successful party in a dispute between the client and the firm to recover legal costs as well as any damages. Often, architecture firms find such provisions acceptable because they assume that if they have to sue a client for a fee, […]
Two New White Papers Disability, Accessibility & Liability—What an Architect Should Know Did you know that architects can be sued for ADA or FHA violations in a multitude of ways—all relating to their project designs? A brand new white paper on Disability, Accessibility & Liability tells you what an architect should know about these requirements. […]
Did you know that 70% of industry professionals surveyed indicated that AIA’s design-build documents are the most preferred Design-Build documents? And now the 2014 versions of the Design-Build documents are available. The major updates include the flexibility to accommodate various ways in which a design-build project can be delivered, the addition of an Owner’s Criteria, […]
When a surety has to take over a project from a defaulting contractor, the surety completes the work under the bonded contract and is entitled to the remainder of the contract cost. Often, the cost of completion exceeds the available payments and the surety looks to sources of cost recovery. In virtually every state, courts recognize […]
Increasingly, all project stakeholders will be challenged by the blending of design services related to the construction of a project. Projects on which the design is delegated to or assigned through those responsible for actual construction blur the lines of responsibility and confuse the ability to copyright information and designs as well as the responsibility […]
There are many reasons for an architectural firm to purchase professional liability insurance including business survival and contract requirements among others. There are also many considerations when selecting this insurance for your firm. In evaluating all pertinent considerations, it is important to be aware of current trends within the professional liability insurance market.
Project delivery systems that select designers and contractors on the basis of qualifications and facilitate communication during design and construction should reduce claims against professional liability policies. When shared risks and rewards are added to the procedure for putting capital assets into place, the contractual arrangements could reduce the likelihood of fault based on negligent […]
Many professional service firms seem to think that health and safety rules are requirements for contractors and others performing construction work. Firms often are surprised or confused when a potential client requires that they submit their health and safety plans as a contractual requirement.
Every year, the Internal Revenue Service announces the contribution limits for retirement plans, including 401(k) plans. As you review your finances, it is important to consider your retirement plan contributions, too.