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- W1511826367 abstract "The Florida Department of Transportation (FDOT) and the transportation construction industry have teamed up to devise a compromise solution to an issue that has divided owners and contractors for years and is at the root of many claims and construction contract litigation: damages incurred as a result of project delay. The newly adopted article to FDOT's Standard Specifications for Road and Bridge Construction, sets forth in precise detail the circumstances under which unabsorbed home office overhead compensation will be paid and provides a simple formula to calculate such compensation. Home office overhead goes unabsorbed when a project is delayed, and the contractor cannot divert its resources to other work or projects that would replace revenue lost from the delayed project. The most widely accepted method of calculating unabsorbed home office overhead is the Eichleay formula. Courts recognizing the Eichleay formula have done so while recognizing that no exact method of establishing indirect overhead expenses exists. Under cases interpreting and applying Eichleay, before a contractor can recover unabsorbed home office overhead under the Eichleay formula it must show the owner caused a delay, the contractor was not also responsible for such delay, and it was impractical or imprudent for the contractor to find replacement work for its forces during the period of delay." @default.
- W1511826367 created "2016-06-24" @default.
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- W1511826367 date "2000-09-01" @default.
- W1511826367 modified "2023-09-26" @default.
- W1511826367 title "FLORIDA CRAFTS A CREATIVE SOLUTION TO AN AGE-OLD ISSUE" @default.
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