How is Unforeseen Conditions defined in a legal contract?
- Unforeseen Conditions means hidden and significantly adverse conditions present in a project or on a project site that were neither known to the contractor nor disclosed in any form or documents provided to the contractor by any person. The contractor assumes the risks of all Unforeseen Conditions except for extraordinary conditions.
Seen in 13 SEC filings - Unforeseen Conditions means unexpected circumstances or situations that impact the final price and/or completion time of a contract or project.
Seen in 11 SEC filings - Unforeseen Conditions means unanticipated circumstances or situations.
Seen in 7 SEC filings - Unforeseen Conditions means conditions at a site which are either subsurface or concealed physical conditions that significantly differ from what is indicated in the contract documents and were unknown or not detected by the contractor prior to performing the work; or unknown physical conditions of an unusual nature that significantly differe from those typically found to exist.
Seen in 5 SEC filings - Unforeseen Conditions means any hidden and materially adverse conditions existing in or under a piece of real estate or any building or structure on the real estate prior to the start of rehabilitation. These conditions are not known to the seller and would not be reasonably foreseeable by someone with experience dealing with similar work in similar locations, circumstances, and conditions using appropriate due diligence.
Seen in 3 SEC filings - Unforeseen Conditions means conditions that materially differ from what was represented in the contract documents or from conditions that would normally be expected to exist and be inherent to construction activities defined in the contract documents.
Seen in 3 SEC filings
Note: pulled this data out of the SEC EDGAR Database of 500,000 records from the past 22 years of filings. We regularly update this page as new filings and definitions come in.
yourself to verify these results. We are always keen to point people to source documents.
Which definition should you use?
🤔 has combined and improved the above descriptions to create market-standard 'Genie definitions' below, with guidance on which documents and which industry to use for each.
Genie Definition 1
Unforeseen Conditions means unknown, major adverse circumstances on a project site undetected prior to work.
Relevant Contract Type
Relevant Circumstances
- Rehabilitation or renovation of a property
- Launch of a new construction project
- Undertaking of a major engineering work
Relevant Sectors
Genie Definition 2
Unforeseen Conditions means unexpected situations affecting final price or completion time of a contract.
Relevant Contract Type
Relevant Circumstances
- Completion of a complex software solution
- Roll out of a major consultancy project
- Bulk supply of resources or products
Relevant Sectors
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Unforeseen Conditions means unknown, major adverse circumstances on a project site undetected prior to work
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