Force Majeure Project Impacts

COVID-19 (coronavirus) is, first and foremost, a public health emergency of enormous proportions. The humanitarian cost to our communities, our country and the world is vast and still rising. While safety and healthcare threats must come first, economic concerns follow shortly after that, as we all seek to minimize the impact on our businesses and our economy. The construction industry faces extraordinary unknowns regarding operations, revenue, contract obligations, timely project delivery and project suspensions or shutdowns. Both project owners and contractors will look to mitigate and recover the costs associated with these impacts.