Construction Contracts: Drafting Issues, Spotting Red Flags and Allocating Risk, Part 2

Construction contracts are among the most difficult agreements to draft or review and negotiate.  At every stage, building is fraught with substantial risk – timely regulatory approvals, cost containment and price certainty, financing contingencies, building deadlines, and a host of other risks. If these risks materialize, as is common, the bargained for exchange among the parties and their expectations are radically unsettled. Construction contracts are a careful allocation of risks, a compromise between flexibility and price/cost certainty, and establish procedures for resolving disputes short of costly litigation. This program will provide you with a practical guide to drafting the most important provisions of construction contracts.

Schedule:

• Insurance and indemnification provisions of construction contracts
• Role of subcontractors and mechanics and materialmen liens
• Anticipating disputes between property owners and builders, and building in cost-effective dispute resolution
• Role and limitations of different type of damages