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2020 Construction Contracts: Drafting Issues, Spotting Red Flags & Allocating Risk, Part 1, 10/27/2020 12:00:00 AM CDT, Self-Study More info »
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Advanced CLE

2020 Construction Contracts: Drafting Issues, Spotting Red Flags & Allocating Risk, Part 1


Total Credits: 1.2 MCLE, 0.0 Kansas Credit

Practice Area:
Real Property
License:
Access for 1 year(s) after program date.

Dates

Price


Description

Construction contracts are among the most difficult agreements to draft or review, and negotiate.  At every stage, building is fraught with substantial risk – timely regulatory approvals, cost containment and price certainty, financing contingencies, building deadlines, and a host of other risks. If these risks materialize, as is common, the bargained for exchange among the parties and their expectations are radically unsettled. Construction contracts are a careful allocation of risks, a compromise between flexibility and price/cost certainty, and establish procedures for resolving disputes short of costly litigation. This program will provide you with a practical guide to drafting the most important provisions of construction contracts.

Day 1

  • Reviewing and drafting essential provisions of construction contracts
  • Use and common mistakes in using AIA contacts in negotiations with builders
  • Defining the scope of a project and planning for modifications
  • How fees and costs are structured – and allocating risk of modification
  • Tying performance standards and timelines to payments

Day 2 

  • Insurance and indemnification provisions of construction contracts
  • Role of subcontractors and mechanics’ and materialmen liens
  • Anticipating disputes between property owners and builders, and building in cost-effective dispute resolution
  • Role and limitations of different type of damages

Materials

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