DESCRIPTION
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.
Day 1:
- Reviewing and drafting essential provisions of construction contracts
- Use and common mistakes in using AIA contacts in negotiations with builders
- Defining the scope of a project and planning for modifications
- How fees and costs are structured – and allocating risk of modification
- Tying performance standards and timelines to payments
Day 2:
- 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
SPEAKER:
John Miller is the principal of John R. Miller, PLLC in the Charlotte, North Carolina and was for 39 years a partner with Robinson, Bradshaw & Hinson, P.A. His practice encompasses corporate and securities law, mergers and acquisitions, banking and finance, and construction law. He was selected by his peers for inclusion in "The Best Lawyers in America" and for inclusion in Business North Carolina Magazine's "Legal Elite" as one of the top business lawyers in North Carolina. He received his A.B. from Duke University and his J.D., with distinction, from Duke University School of Law.
Disclaimer: All views or opinions expressed by any presenter during the course of this CLE is that of the presenter alone and not an opinion of the Oklahoma Bar Association, the employers, or affiliates of the presenters unless specifically stated. Additionally, any materials, including the legal research, are the product of the individual contributor, not the Oklahoma Bar Association. The Oklahoma Bar Association makes no warranty, express or implied, relating to the accuracy or content of these materials.