CONSTRUCTION DELAYS - CONTRACTS LAW & LOSS QUANTIFICATION AND A GENERAL TAX UPDATE
From Miller Thompson LLP:
- Paul Guaragna
- Lori Goldberg
From BDO Canada LLP
- Paul Teitelman
- Chetan Sehgal
- George Dube
Developers, this forum will help you navigate the impact of pandemic related delays and related contractual obligations, provide practical advice on issues related to claim quantification, and provide an update on the latest tax rules in the construction and development space.
As a result of the build-up of delays from several COVID waves, many businesses are reviewing their contracts to determine their obligations for the continued performance of their scope of work and what, if any, relief they may be entitled to. Developers are finding the cost of construction materials have been increasing steeply during 2021. This session will provide valuable insight from Miller Thomson professionals into understanding force majeure and delay clauses, and offer practical advice on the steps that can be taken to ensure that your business is protected.
When it is clear contracts have been breached, much effort is required to take stock of the loss. Hard costs are often the first to be tackled, but soft costs, including lost profits among others, do not immediately come to mind and are more complex to quantify. A better understanding of the many costs that are needed to be considered for a delay claim will arm you with the knowledge required to present a well-supported claim. BDO will outline the types of construction disputes and losses and what goes into determining their dollar value.