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Client Alerts
Published by Construction Law
April 3, 2024 • 1-minute read
Termination of major construction contracts has traditionally been seen as a last resort, leading many parties to soldier on in bad situations given the potential risks of terminating. However, recently we have seen parties increasingly willing to terminate (or at least seriously consider it), and other stakeholders, such as lenders, increasingly give approval for terminations.
Even so, termination is still something of a ‘nuclear option’. It’s risky and requires careful planning. There are serious consequences for the terminating party who gets it wrong. In this article published by Construction Law, Angus Rankin, Mat Parente and Jess Webster explore some key points to consider in the decision-making process.
To read the full article, click here.
This information is provided by Vinson & Elkins LLP for educational and informational purposes only and is not intended, nor should it be construed, as legal advice.
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