If you're involved in a construction dispute, it's important to have a good legal team on your side so that you can get everything resolved as quickly as possible. When these disputes drag on and on, they have a tendency to get very expensive. Some estimates indicate that $5 billion is spent annually, with rates going up by about 10 percent every year.
Obviously, there are costs related to going through with the court case in the first place, but it's important to also think about costs that are less visible. For example, some of your company's resources are going to be tied up going through the dispute. This could simply mean lost revenue when you have to go to court and so you can't be on the job site. When you add in all other personnel that are required, your time commitments outside of the courtroom, travel costs, and things of this nature, the expenses begin to pile up.
There could also be lost revenue due to business opportunities that you miss out on. You may have to pass up a job because you're busy with the case. You may see your company's image damaged -- even if you did nothing wrong -- during the case. This can cost you jobs. You may lose business relationships that you worked for years to build.
It's tough to quantify how much you lose to things of this nature, but the impact is clear. If facing a dispute, then, be sure you know what legal options you have in Fort Lauderdale so that you can work toward a fast, low-cost resolution.
Source: American Bar, "Construction Disputes - American Bar Association," accessed Sep. 30, 2016