Fears of financial failure take hold early, and more than a handful of project developers (Owners), Contractors, and Subcontractors and suppliers have ended up in bankruptcy. With the veritable explosion of litigation, arbitration, and mediation, the tendency has been that none of the parties emerges satisfied from the process. The billions of dollars of annual work has led, in turn, to unprecedented tensions between Owners and Contractors, Contractors and Subcontractors, and often drawn Architects, Engineers, and Sureties into the fray. While public construction projects have always carried the Industry, private construction accounted for nearly half of the new construction on the Island last year. In recent years, the Construction Industry in Puerto Rico has experienced a wealth of activity unparalleled in its history.
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