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Who should attend Surety Process: What To Do When Construction Projects Go Bad
This one-day seminar is designed for construction and project managers, attorneys, engineers, presidents, vice presidents, owners, architects, estimators, consultants, developers and insurance professionals.
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Surety Process: What To Do When Construction Projects Go Bad  

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This one-day seminar is designed for construction and project managers, attorneys, engineers, presidents, vice presidents, owners, architects, estimators, consultants, developers and insurance professionals.

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Seminar Summary:

This seminar will explain the role of the project participants involved in a construction project, including the owner, contractor, construction manager, design professionals and surety. (see full course description)

 
 

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Training Course Syllabus:


As part of the overview, this seminar will explain the role of the project participants involved in a construction project, including the owner, contractor, construction manager, design professionals and surety. It will also explain the different types of bonds and the role of the surety on a construction project.

The seminar will then discuss the formation of contracts and the risks associated with each, the types of impacts that may occur on project and how to calculate the resulting damages. After this, the seminar will focus on the actions to be taken when a project starts to turn bad and how to select and manage a completion contractor. The seminar will also discuss techniques to estimate the costs to complete the project and to determine the amount of time required to complete the project, followed by the presentation of a case study in which the previously presented material will be utilized in a real life example of how to deal with a troubled project.

Seminar highlights:

  • Use of payment and performance bonds on the project and the role of the surety
  • Actions to be taken when the project starts to turn bad and how to protect/preserve your rights
  • How to estimate the cost and time of completion

Learning objectives:

  • The attendee will be able to discuss project status and the costs and time to complete.
  • The attendee will be able to identify contracts and project impacts.
  • The attendee will be able to review the pros and cons of litigation, arbitration and mediation.

9:00 a.m. - 9:45 a.m.

I. Overview

A. Project Participants

1. Owner

2. Architect/Engineer

3. Construction Manager

4. Contractor

5. Subcontractor

6. Surety

B. Bonds And The Role Of The Surety

1. Payment Bonds

2. Performance Bonds

9:45 a.m. - 10:45 a.m.

II. Contracts And Project Impacts

A. Types Of Contracts

B. Design Errors And Omissions

C. Delays And Acceleration

D. Documenting The Impacts

E. Extra Work And Impact Claims

10:45 a.m. - 11:00 a.m.

Break

11:00 a.m. - 12:15 p.m.

III. When The Project Starts To Turn Bad – What To Do

A. Notices – How, When, Who And What?

B. Involving The Surety

C. Reserving And Preserving Rights

D. Termination

E. Default

F. Engaging A Replacement Contractor

G. Managing The Completion Contractor

H. Traps To Avoid

12:15 p.m. - 1:15 p.m.

Lunch (On Your Own)

1:15 a.m. - 2:45 p.m.

IV. Determining Project Status And The Costs And Time To Complete

A. Basics Of Estimating

B. Determining The Amount Of Work Completed And Remaining To Be Completed

C. Estimating The Costs To Complete The Project

D. Basics Of Scheduling

E. Determining The Time To Complete The Remaining Work

2:45 p.m. - 3:00 p.m.

Break

3:00 p.m. - 3:45 p.m.

V. Case Study

3:45 p.m. - 4:15 p.m.

VI. Calculating Damages And Resolving Disputes

A. Calculating Delay And Productivity Damages

B. The Pros And Cons Of Litigation, Arbitration And Mediation

4:15 p.m. - 4:30 p.m.

VII. Questions And Answers

Seminar Summary:

This seminar will explain the role of the project participants involved in a construction project, including the owner, contractor, construction manager, design professionals and surety. (see full course description)

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