As the scope and impacts of the novel coronavirus (COVID-19) pandemic continue to grow, everyone is struggling both to adjust to new ways of life and to grasp what all of this will mean for business. How governments respond to COVID-19 is changing hourly, with more and more businesses forced to run at skeleton crews or shut down altogether. There will be substantial delays and cost impacts as a result of COVID-19 and related government actions, but there is no way to predict what those impacts will be or when they will end. Some contractors may not be feeling any of the impacts yet because they have not been told to shut down or because they are considered “essential” for purposes of government work restrictions. However, it is very possible and likely that at some point, work will grind fully to a halt. Even if it does not stop altogether, work will be more costly or may take more time because of the totality of many small impacts. While it is impossible to predict the full impact of this entirely unprecedented pandemic, there are important actions that construction industry contractors, subcontractors, and suppliers should take now to better control their future when things start shaking out. Below are some of these steps that should be taken immediately to make safe your work force, your contract rights, and your cash-flow.
Washington Building Congress