In the construction industry, risk-shifting mechanisms are tools used to transfer the risk of certain aspects of a project from one party to another. This is often done through contracts and agreements that outline the responsibilities and liabilities of each party involved in the project. One common risk-shifting mechanism in construction is the use of indemnification clauses, which hold one party responsible for any damages or losses that occur as a result of their actions or negligence. By including these clauses in contracts, contractors can shift the financial risk of potential problems or accidents onto the party that is deemed responsible.Another common risk-shifting mechanism in construction is the use of insurance policies. Contractors and other parties involved in a construction project often carry insurance policies that protect them from financial losses in the event
What is Risk-Shifting Mechanism?
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