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Credits

Sponsored by Lorman Education
Product ID: 405888EAU
 
Credit & Course Provided by:

Commercial Contracts: Drafting and Termination Overview

OnDemand Webinar (93 minutes)

Learn how to draft and terminate a commercial contract.Many parties are not aware of critical contract provisions that can substantially affect their rights during a project and upon termination. This topic will discuss contract drafting fundamentals, including termination provisions. The topic will also give some insight on what contract language should be included to protect respective parties' rights and interests. The content will include critical information related to parties' rights related to payment and defective work.

Authors

Danielle Cohen, Tesser & Cohen Matthew Lakind, Tesser & Cohen

Agenda

Owner Perspective

• Payment Procedure

• Architect's Role

• Defective Workmanship

• Termination Provisions in Favor of Owner: 1) for Cause; and; 2) for Convenience

• Owner Protections: Payment/Performance Bonds, Lien Waivers, Discharge of Mechanic's Liens

Contractor Perspective

• Allocating Risk of Payment

• Shifting Risk Down to Lower Tiers

• Termination Provisions in Favor of Contractor

Subcontractor Perspective

• Change Order Approval

• Delays

• Notice of Defects and Opportunity to Cure