The complex nature of many construction disputes in Missouri means that many issues can be costly to resolve and stretch out over a long period of time. Indeed, the average construction dispute across the country can take around 14 months to reach a resolution. Two of the most common issues raised in legal battles over construction projects are errors and omissions and unsubstantiated claims, and building information modeling can play a role in helping to resolve some of these issues.
About construction contracts
There are many different types of construction contracts Missouri builders can use. However, there are a few that they prefer to use more than others.
Defects can happen at any stage of construction
A Missouri builder could be liable for various types of construction defects. For example, a company may be held responsible for an issue with the design of a home, how it was put together or for lack of oversight while construction occurred. Liability issues can also ensue if there are problems with the home's electrical system, doors or windows.
American market ripe for foreign investment
Missouri residents may have heard about a potential trade war that could bring negative consequences. However, the United States is still a preferred market for many foreign investors. In fact, foreign countries directly invested $450 billion in the United States in 2016, according to the Bureau of Economic Analysis. Typically, foreign investors like to put their money into commercial properties. Since 2010, $365 billion has been invested in this sector, and the money tends to go toward properties located in large cities.
