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Without a properly structured risk-transfer program, a general contractor (GC), owner or property manager would assume financial responsibility unnecessarily for losses caused by a third-party subcontractor. (Photo: iStock)

In this age of outsourcing and specialization, construction companies have to depend heavily on subcontractors and other third party providers on most projects. The use of subcontractors helps to ensure projects are completed in a timely and efficient manner, but it also creates a wide range of contractual risks.


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