Description
Better understand the rights, remedies, responsibilities, and risks of the various subcontracts.
Performing work on a construction project without reading and understanding your contract is like sitting down to a game of highstakes poker without having ever played the game or learned its rules. Youll slowly learn the rules with each loss.
Subcontractors need to understand the subcontracts they sign if they hope to survive and prosper in the modern construction industry. Courts will not save the parties from bad deals. In addition, construction contracts have gotten more complex as projects have gotten more complex. Identifying the important terms of a contract has gotten more difficult.
This program will focus on the contract provisions that subcontractors truly need to know about, and why they need to know about these provisions. This knowledge will lead to a better understanding of the rights, remedies, responsibilities, and risks of the various subcontracts that the participants may encounter in their professional experience. Armed with this understanding, participants will be better positioned to draft, negotiate, and administer their construction contracts.
This topic will benefit owners, construction managers, contractors, trade and specialty contractors, subcontractors, suppliers, architects, engineers, sureties, attorneys, and others in the construction industry who dealings are affected by subcontract issues.
Date: 2024-06-26 Start Time: 1:00 PM ET End Time: 2:05 PM ET
Learning Objectives
* You will be able to review subcontracts with a better understanding of your rights, remedies, responsibilities, and risks under those subcontracts.
* You will be able to identify the terms that are commonly found in subcontracts.
* You will be able to negotiate the terms and conditions in subcontracts you are asked to sign.
* You will be able to avoid the common pitfalls that subcontractors frequently.