This seminar will offer you practical considerations for negotiating construction contracts, with an emphasis on maximizing profits. The speakers will discuss the various standard form contracts that are available to parties on a project, and will highlight the advantages and disadvantages of each. By being familiar with these contract documents, you will understand how the terms and conditions of the other project participants' contracts impact you.
Depending upon your role in the project, the seminar will make you aware of what your obligations, rights, and risks are when you sign a contract document, what you need to do to satisfy your obligations, protect your rights and manage your risks. The speakers represent accounting and legal backgrounds.
- Choosing the right contract
- Negotiating the right contract terms
- Improving profit
- Resolving disputes and maximizing recovery
- The attendee will be able to identify techniques for negotiating contracts.
- The attendee will be able to improve accounting techniques.
- The attendee will be able to maximize profits.
8:30 a.m. - 9:00 a.m.
I. Overview Of AGC, AIA And
Other Standard Form Contracts
A. Use Of Standard Form Contracts
B. Role Of Contracts On The Project
C. Rewards/Pitfalls Of Going Outside The 'Family'
9:00 a.m. - 9:30 a.m.
II. Owner/Architect Agreements
A. Owner's And Architect's Roles And Responsibilities
B. Project Scope
C. Designing To Budget
D. Ownership Of Design Documents
9:30 a.m. - 10:00 a.m.
III. Bid-Related Documents
A. Bidder Qualifications
B. Bid Bond
C. Instructions To Bidders
1. Responsiveness Of Bids
10:00 a.m. - 10:10 a.m.
10:10 a.m. - 11:00 a.m.
IV. Owner/Contractor Agreements
A. Stipulated Sum
B. Cost Plus Fee With Guaranteed Maximum Price
C. Incorporation And Merger Clauses
11:00 a.m. - 12:00 p.m.
V. Accounting Issues
A. Job Costing
12:00 p.m. - 1:00 p.m.
Lunch (On Your Own)
1:00 p.m. - 2:15 p.m.
VI. Profit Improvement
A. A/P Scanning
B. A/R Collections
D. Insurance Review – Not Your Father's Insurance Review
2:15 p.m. - 2:45 p.m.
VII. Construction Management
A. Constructor CM
B. Agency CM
2. Construction Administration
3. Trade Contractor Payment
2:45 p.m. - 2:55 p.m.
2:55 p.m. - 4:00 p.m.
VIII. Scheduling, Delays And Timely
A. Delays, Suspension And Termination
B. Performance And Payment Bond Considerations
C. Payment Applications, Certificates Of Substantial Completion And Consent Of Surety To Final Payment
4:00 p.m. - 4:30 p.m.
IX. Dispute Resolution
D. Mechanic's Liens
E. Surety Bond Claims