| COURSE
TOPICS
1. The Construction
Contract
a. A general overview
b. Contract law
c. Privity issues
d. What to do before entering the
contract
e. Most common mistakes by the homebuyer/owner
2. Key Contract
Terms and Their Importance to You
a. Scope
b. Indemnification
c. Inspection, acceptance and warranties
d. Differing site conditions
e. Changes
f. Insurance
g. Work continuity
h. Right of “set-off”
i. Surety bonds
(1)
Performance bond
(2)
Payment bond
3. Common Issues
a. Contract documents
b. Differing site conditions
c. The mechanic’s lien
d. Delays
e. Damages
(1)
Incidental
(2)
Consequential
(3)
Liquidated
f. Dispute Resolution
(1)
Negotiated settlement
(2)
Binding Arbitration
(3)
Litigation
4. Practical Exercise
COURSE OBJECTIVES
• Become familiar
with basic contract law
• Learn what to look for in construction
contracts
• Become familiar with essential construction
contract terms
• Gain an understanding of common
construction contract issues
• Learn how to avoid common mistakes
• Demystify the “legalese”
in construction contracts
WHO SHOULD ATTEND
• Prospective homebuyers
who are planning to enter a construction contract with a builder
• Owners who are planning renovation,
remodeling or other construction projects
• Actual and potential real estate
investors
• Contract administrators
• Subcontract administrators
• Any lay person seeking to acquire
services from the construction industry CONTINUING EDUCATION
CREDIT
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