Contractors bidding public work in Ohio are encouraged to bid what is represented in the bid documents, including any milestones, completion dates or default “bid schedule.”
As Ben Franklin was quoted as saying: “Time is Money.” That adage is particularly true on construction projects. Rare is the job that stays profitable if it is delayed or impacted.
So it is disappointing to see that the records of Ohio Facilities Construction Commission (“OFCC”) show that in 2015 only 45% of OFCC projects were completed on time and only 67% were completed on or under budget.
Those same OFCC contracts have rigid and technical requirements for pursuing requests for additional time or money. Contractors who are interested in bidding OFCC projects are well-advised to consider the risks associated with such projects, and to familiarize themselves with the contract requirements governing requests for additional time or money in the event of project delay and/or acceleration.