Perusing PIP clauses are in every contractor’s best interest

Description

Abstract: Construction contracts are multifaceted documents. One chunk of legal language that has caused much controversy over the years is the pay-if-paid (PIP) clause. It stipulates that a general contractor will pay subcontractors only if payment is received from the project owner. This article explains why contractors need to get and stay up to speed on the latest legal implications of PIP clauses.