The spread of COVID-19 has turned out to be a major economic downturn for the construction companies. With most of the commercial projects being suspended or terminated, the destruction and loss it has brought to contractors need some serious revival plan.
With years of experience providing accounting software to construction firms, this blog will guide you through various aspects of termination of contracts which can help construction companies to stand against liabilities. This blog includes a detailed guide on the legal aspects that can help to deal with the frequent fallout of construction projects to resist any loss of liquidity. Moreover, we have accommodated a quick introspection of the impact and uncertainties of COVID-19 on public construction.