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Allowances and Contingencies: How to Avoid Disputes

Understanding the use of allowances and contingencies in your construction project agreement.

Allowances are used on almost all projects to provide for a hedge against uncertainty at the time of the original quote or bid. The quantity for an item of work might not be specifically known, or a product or material might not be selected. The use of allowances can provide a reasonable estimate of unknown items at the time of the original contract, subject to adjustment based upon requirements of future decisions by the owner. Contingencies provide funds for unknown costs for example at the time the parties agree upon a guaranteed maximum price on a cost plus fee amount. This material will discuss terms that determine the rights of the parties to use contingency amounts and the allocation of unused contingency savings at the time of completion.

Runtime: 90 minutes
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Over 31 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Agenda

Allowances

  • Types of Allowances
  • Use of Allowances
  • Contractual Provisions Relating to Allowances
  • Changes Relating to Allowances
  • Payment for Allowances
  • Potential Disputes Concerning Allowances

Contingencies

  • Types of Contingencies
  • The Use of Contingencies
  • Contractual Provisions Relating to Contingencies
  • Changes Relating to Contingencies
  • Payment Relating to Contingencies
  • Potential Disputes Concerning Contingencies
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Why Lorman?

Over 31 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Credits

OnDemand Webinar

This course was last revised on August 23, 2018.

Call 1-866-352-9540 for further credit information.

  • ICC 0.15
     
  • Lorman Education Services is an International Code Council Preferred Provider. This event is approved for 0.15 CEU's through ICC.
     

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

Audio & Reference Manual

  • Arizona CLE 1.5
     
  • CA MCLE 1.5
     
  • CT CLE 1.5
     
  • GA CLE 1.5
     
  • HI CLE 1.5
     
  • IL CLE 1.5
     
  • ME CLE 1.5
     
  • MT CLE 1.5
     
  • NJ CLE 1.8
     
  • NV CLE 1.5
     
  • VT CLE 1.5
     
  • WA CLE 1.5
     
  • WV MCLE 1.8
     
The CLE Code is ONLY a requirement when applying for CLE Credit in California (for participatory credit), Kansas, New Jersey or New York. Other states do not need to supply the CLE Code to apply for CLE credit.

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

MP3 Download

  • Arizona CLE 1.5
     
  • CA MCLE 1.5
     
  • CT CLE 1.5
     
  • HI CLE 1.5
     
  • IL CLE 1.5
     
  • ME CLE 1.5
     
  • MT CLE 1.5
     
  • NJ CLE 1.8
     
  • NV CLE 1.5
     
  • VT CLE 1.5
     
  • WA CLE 1.5
     
  • WV MCLE 1.8
     
The CLE Code is ONLY a requirement when applying for CLE Credit in California (for participatory credit), Kansas, New Jersey or New York. Other states do not need to supply the CLE Code to apply for CLE credit.

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

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More Program Information

Why Lorman?

Over 31 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Faculty

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Samuel H. Levine

Bryce Downey & Lenkov LLC

  • Attorney in the Construction Law Group of Bryce Downey & Lenkov LLC
  • Practice covers a broad spectrum of activities in the areas of construction and real estate litigation including construction disputes, mechanics liens and bond claims, real estate title disputes and bankruptcy matters
  • Represents owners, prime contractors, secondary subcontractors and lenders in construction disputes
  • Illinois Super Lawyer in the area of Construction Litigation 2006; 2010 to present
  • Tried and arbitrated construction, foreclosure and real estate related litigation cases
  • Written and spoken extensively on a variety of topics relating to construction law, bankruptcy and other real estate related topics
  • An arbitrator of mechanics lien cases as part of the Cook County, Illinois mechanics liens pilot arbitration program
  • J.D. degree, Chicago-Kent College of Law; B.A. degree, Washington University in St. Louis
  • Can be contacted at [email protected]
Justin L. Weisberg

Justin L. Weisberg

Schuyler, Roche & Crisham, P.C.

  • Partner with Schuyler, Roche & Crisham, P.C.
  • Practice focuses on construction law and commercial litigation
  • Represents private, public, local, and international clients in a variety of construction-related transactions and litigation matters
  • Experience has included contract negotiation and drafting of design, design build, IPD, P3 and construction contracts as well as mediation, arbitration and litigation including both bench and jury trials of numerous disputes involving design, construction and insurance coverage matters
  • Registered professional engineer in both Illinois and Florida allows him to utilize his previous engineering experience in his law practice to provide ongoing project counseling to clients
  • J.D. degree Chicago Kent College of Law; B.S.E. degree, University of Illinois
  • Can be contacted at [email protected]
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Product ID: 403879
Published 2018
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