Is your construction company searching for a commercial real estate attorney? Whether you are interested in a consultation to clarity your understanding of a specific commercial real estate law or need legal representation due to a breach of contract or other related situation, a commercial real estate law firm can provide you with legal advice and counsel.
If your company is planning its first project, for example, were you aware that you’ll need Builders Risk Coverage? This coverage is usually needed for at least one year in order to cover any potential situations that may arise. Builders Risk Coverage is required for a variety of construction situations. This includes when a new building or other type of structure is being constructed, and it is also needed when an existing structure is being renovated, repaired, or otherwise being altered.
The basic way to apply for this coverage is through the ISO’s Builders Risk Coverage Form, CP 00 20. This form is written in simplified language per the commercial property program’s updated guidelines. You may decide to have a commercial real estate law firm assist you with completing this form and follow up accordingly.
If you’re not sure when to hire a commercial real estate attorney, is your company involved with a civil case that involves a breach of contract? These types of cases comprise approximately 33% of civil cases that are filed within the state courts, as reported in the Bureau of Justice Statistics. This situation applies to both civil bench and jury trials.
It’s interesting to note that a 2005 review of state-filed civil cases showed that bench trials were won 68% of the time by the plaintiffs. When these cases went before a jury, however, plaintiffs won their cases 54% of the time. Bench trials appear to be the better course of action for these types of cases.
When possible, alternate dispute resolution is actually the preferred conflict-management process within the construction industry, according to the American Arbitration Association. One of the significant reasons for this is that the parties involved have the opportunity to resolve their issues with the benefit of a neutral mediator. When this isn’t possible, either a bench or jury trial may be in order.
When alternate dispute resolution rather than a bench or jury trial is utilized, a dispute can potentially be resolved in less time. During 2015, for example, the median time frame it took for construction arbitration cases to be resolved was less than eight months. This includes the time period from when the papers were initially filed up to the distribution of any forthcoming award.
In some cases, construction companies may have a real estate law firm on retainer to assist them through the duration of a project or multiple projects. Whether you have basic questions or are facing a dispute, you can contact a commercial real estate law firm to discuss your case. At that time, they will provide guidance on the best course of action.