By Bruce Jervis
Limitation of liability clauses have gained wide use in professional service agreements, particularly among design professionals and construction managers. These clauses state that the consultant’s total potential liability to the client is limited to the greater of a stipulated amount, frequently $50,000, or the fee that was paid by the client.
The rationale for these clauses is that the liability exposure created by involvement in a construction project is disproportionate to the limited role of the consultant and the compensation it receives. Some contractual allocation of risk is in order. ... Read more.
By Steve Rizer
The results of a recent survey should put smiles on the faces of building owners who are thinking about charging hefty premiums for the use of their green workspaces. Overall, tenants responding to Kingsley Associates’ survey expressed more satisfaction being in buildings with a BOMA (Building Owners and Managers Association) 360 designation -- which includes standards for indoor air quality, building management, and other environmentally impactful factors -- than traditional buildings. ... Read more.
By Steve Rizer
Expect the global market for building information modeling (BIM) software and services to soar over the next eight years, more than tripling over that period, according to a report that Pike Research recently released. The Boulder, Colo.-based research firm believes that annual worldwide revenue for BIM products and services solutions will rise from about $1.8 billion this year to nearly $6.5 billion in 2020.
Relatively strong growth is expected for the next several years in those regions of the world where BIM adoption has taken hold, including North America, Western Europe, and the Asia Pacific. Although North America and Western Europe are leading the market, Pike foresees a higher rate of growth in the Asia Pacific region. “Much of this is due to the fact that the Asia Pacific region has a large building stock as well as a significant amount of building and construction taking place." ... Read more.