Monday, September 14, 2009

Construction Experts Offer Practical Tips for Contract Terms and Conditions

Understanding commercial terms and conditions in construction contracts can lessen the contractor's risks and liabilities. WPL Publishing will present a 90-minute webinar in which contracting experts offer insights into the process and how to ensure a positive cash flow during tough economic times.

Washington (PRWEB) September 14, 2009 -- Risk and liability are inherent parts of the construction contracting process. But, with proper planning and an understanding of a contract's terms and conditions, as well as proper dispute resolution measures, AEC professionals can turn those risks into assets. WPL Publishing will partner with Kit Werremeyer and J.T. (Jay) Wodarski to address these topics in a 90-minute webinar presentation -- Practical Aspects of Negotiating Contract Terms and Conditions: A Non-Attorney Perspective -- on Wed., Sept. 23 at 1 p.m. (EDT). For full webinar details and to register, visit http://tiny.cc/J5wnG.

This 90-minute interactive program will provide important information on construction contracting's commercial terms and conditions, including:

 
  • Scope of work, including a careful, clear and definitive description, and how it is the most important part of a construction contract or subcontract
  • Cash flow implications of various terms of payment, such as down payment/early payment, paid when paid clauses, paid if paid terms, incentives for timely payments and electronic funds transfer
  • A description of various forms of indemnity (with examples)
  • Additional insured status and contractual liability as related to risk reduction
  • Contractual clauses that protect against prospective change/differing site condition claims
  • The best dispute resolution clause you should negotiate in your contracts
In addition, a 10-to-15 minute period has been reserved at the end of the presentation for an interactive question-and-answer session so listeners can discuss specific issues or gain additional knowledge about topics discussed. This 90-minute seminar will give you practical insight to draft contracts designed to work in your favor.

Kit Werremeyer is the owner and president of Southernstar Consultants LLC, which provides training courses on negotiating contracts in the AEC industry. After a 32-year career with the Chicago Bridge & Iron Company, Werremeyer built his consulting career by helping companies such as Bechtel, Fluor, Black & Veatch and DuPont navigate sales negotiations, construction contracting, claims settlements and dispute resolutions.

J.T. (Jay) Wodarski is the regional business development manager of Matrix Service Inc., a multi-faceted industrial contractor that provides construction services to the downstream petroleum and power markets. Previously, he spent 34 years at Chicago Bridge and & Iron Company. Wodarski's career in construction contracting has taken him to six continents, giving him experience in many cultures and with a full range of clients.

This webinar is a must for construction managers, project owners, contractors, subcontractors, manufacturers, suppliers and attorneys engaged in construction contracting. Webinar tuition is based on location, not number of participants, so each registration site can have multiple participants for one low price. For information on pricing and to register, visit http://tiny.cc/J5wnG

About WPL Publishing
WPL Publishing Co. Inc. produces four construction newsletters: Construction Project Controls & BIM Report (www.projectcontrols.com), Construction Claims Advisor (www.constructionclaims.com), Green Building Insider (www.greenbuildinginsider.com) and Construction Advisor Today (www.constructionadvisortoday.com). It also hosts webinar series on topics relevant to the construction industry. WPL is also on Twitter at CAT_Online.

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[Via Legal / Law]

Posted by prolink at 4:48 AM

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