Gaille Energy Blog Issue 93 explained the following four types of construction/services compensation and the incentives created by each: Lump SumUnit PriceTime & Materials (T&M)Actual Cost This issue discusses how incentive-based compensation mechanisms can be added to Actual Cost and... Continue Reading →
This article explains the differences between the four types of compensation typically used in energy construction agreements: Lump Sums. The contractor is paid a flat price for successful completion of all of the work. For example, a contractor might be paid a... Continue Reading →
A Contractor’s pricing and schedule are based on a variety of factors, including the scope of work, site conditions, and seasonal weather risks. Sometimes nothing changes. More often than not, though, the Owner makes changes to the scope of work—or... Continue Reading →
I spent Father’s Day visiting my parents in South Texas. Much of our conversation was about the state of the world and how bad things have been this 2020. But the trajectory of human progress—like the stock market—is not a... Continue Reading →
In just one decade, the energy sector has seen three dramatic busts: (1) the 2008-09 financial crisis; (2) the 2014-15 oil crash; and (3) the 2020 COVID-19 pandemic (the “Three Crashes”). The 2020 crash may be the worst yet. One of my clients... Continue Reading →
Like most other businesses, law firms, too, are suffering the economic effects of COVID-19. Although many lawyers are able to work just as efficiently from their homes as they can from their offices, the impacts of COVID-19 on clients often... Continue Reading →
Over the course of the last few months, lawyers have been deluged with articles about COVID-19 and force majeure, much of them containing quite similar content and analysis. My Research Assistant at The University of Chicago Law School, Tanner Harris,... Continue Reading →
One of the principal COVID-19 issues facing the construction industry is a work shutdown due to an employee exhibiting COVID-19 symptoms, testing positive for COVID-19, or being exposed to someone who has tested positive for COVID-19. In such cases, the... Continue Reading →
In 2003, China saw a preview of COVID-19 in the form of another coronavirus called SARS. SARS struck Hong Kong and sent a wave of change across China. Yet most Americans were oblivious to its existence. At the time, though,... Continue Reading →
