Understanding the complex terms and conditions included in most construction contracts, and negotiating reasonable modifications to those terms and conditions, are central elements to the successful management of risks imposed on your company. This class will explore the most common clauses by which project owners and general contractors shift risk down to subcontractors, focusing on risks they create, recommended changes to make them more reasonable, and strategies to try to negotiate these changes.
Specific topics include:
• Risk shifting clauses (e.g., no-damages-for-delay, pay-if-paid, differing site conditions)
• Process and procedure clauses (e.g., notice, submittals, payments, changes, disputes)
• Design responsibility clauses
• Clauses incorporated by reference
• Contract exhibit