SmithAmundsen Seminar: The 10 Keys To Reading and Understanding Construction Contracts
On SmithAmundsen hosted a luncheon seminar entitled "The 10 Keys To Reading and Understanding Construction Contracts," presented by Bob Lessman of our Construction Practice Group.
Overview
Whether you negotiate or litigate contracts, or are involved in construction claims, knowledge of the key principles of construction contracts and their impact on rights, duties, liabilities, insurance, payment and other key considerations is crucial to effectively understanding and applying them. Further, as the construction industry anxiously awaits its rebound from the recessionary pressures of the past few years, construction budgets tighten, and the potential for disputes increases as parties are less likely to simply "walk away" understanding of construction contracts is critical.
Robert Lessman, a senior partner in our Construction Practice Group, and former general counsel to Pepper Construction, has both negotiated and resolved disputes under the toughest construction contracts. Bob will guide you through the critical elements of construction contracts and discuss the impact of key clauses. You will leave the session with a working knowledge of the top ten factors to review when reading a construction contract and traps for the unwary.
Part 1
- Project Delivery
- Price and Adjustments
- Plans and Specifications - Liability for Review
- Expressed and Implied Warranties
- Concealed Conditions and Excusable Delay
Part 2
- Design vs. Performance Specifications
- Construction Defects - Limitations and Choice of Law
- Insurance - Builders Risk and SubGuard
- Indemnity
- Payment and Insolvency
For additional information on construction contracts, please contact Bob.