Will coverage be broad enough?
There are very few types of buildings that don’t lend themselves to wrap-ups. Civil contractors tend to have a large portion of self-performed work so it doesn’t make a lot of sense to wrap-up a single contractor that’s probably really good at what they do and have the right corporate policies in place. However, commercial buildings, industrial and residential buildings should take on the considerations of choosing a wrap-up. You need to understand what is being built, where it’s being built, how it’s being built and what the appetite is for risk transfer. An OCIP may not always be the right solution. This video reviews different types of contracts that can be used, as well as the impact on contractor relationships.
Runtime: 15 minutes
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