Florida Building Contractor Business/Finance Practice Exam

When is the best time to let your attorney review your construction contract?

1. Before the contract is prepared

2. After the contract is signed

3. After the contract is prepared but before you sign it

4. During the contract execution phase

The correct answer is: After the contract is prepared but before you sign it

Letting your attorney review your construction contract after it is prepared but before you sign it is critical for several reasons. This timing allows your attorney to carefully examine the terms and conditions outlined in the contract, ensuring that your interests are adequately protected. They can identify potential legal issues, ambiguous language, and unfavorable terms that could create problems later on. Reviewing the contract at this stage also enables your attorney to suggest necessary modifications or additions to the document, thus helping to align the agreement with your goals and project requirements. Once you have signed the contract, it can be significantly more challenging and time-consuming to negotiate amendments, and issues could arise that may have been avoided with proper legal counsel beforehand. The other options do not provide the same level of protection and oversight. If you let your attorney review the contract before it is prepared, they won't have the actual terms to analyze. Reviewing the contract after it has been signed means you forfeit the opportunity to make necessary changes. Lastly, during the execution phase, your focus should be on carrying out the contractual obligations rather than negotiating terms, which ideally should have been settled beforehand.