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Cost-Plus Contract Fundamentals

Both commercial clients and government entities are increasingly using cost-plus contracts. Therefore, it is useful for contractors and owners to understand the various aspects of cost-plus contracting. This on-demand webinar begins with a discussion of the key differences between fixed-price and cost-plus contracts, and provides insight into the various types of cost-plus contracts as well as industry and government standard agreements. Next, this on-demand webinar provides a detailed examination of cost of the work, general conditions, and fee allocation. This on-demand webinar then highlights common issues in cost-plus contracting, including: establishment of budget and owner approval of costs, change order negotiations, liquidated damages and loss of fee, contract close-out requirements, and audits. By clarifying the complexities associated with cost-plus contracting, this on-demand webinar prepares both contractors and owners for a better project experience.

Learning Objectives:

  • You will be able to identify the key differences between fixed-price and cost-plus contracts.
  • You will be able to discuss complexities in cost-plus item allocation.
  • You will be able to explain establishment of budget and owner approval of costs.
  • You will be able to review change order negotiations.

Runtime: 86 minutes
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Why Lorman?

Over 33 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

Types of Construction Contracts

  • Key Differences Between Fixed-Price and Cost-Plus Contracts
  • Projects Suitable for Cost-Plus Contracts
  • Variations of Cost-Plus Contracts
  • Industry and Government Standard Cost-Plus Agreements

Complexities in Cost-Plus Item Allocation

  • Negotiating Specific Pricing Items
  • Cost of the Work
  • General Conditions
  • Fee

Common Issues in Cost-Plus Contracting

  • Establishment of Budget and Owner Approval of Costs
  • Change Order Negotiations
  • Liquidated Damages and Loss of Fee
  • Contract Close-Out Requirements
  • Audits
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More Program Information

Why Lorman?

Over 33 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 December 19, 2013.

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

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
     
  • HI CLE 1.5
     
  • ME 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
     
  • ME 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 33 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

Dirk D. Haire

Dirk D. Haire

Fox Rothschild LLP

  • Office managing partner of the Washington, D.C. office of Fox Rothschild LLP
  • Practice emphasizes all aspects of alternative dispute resolution, construction, federal government contracts and procurement, infrastructure and litigation
  • Conducts regular seminars/live webinars and workshops on numerous topics such as Best Practices for Teaming Arrangements on Federal Construction Projects, The Latest in Federal Contracting Trends and Ethic Compliance Requirements for Federal Contractors
  • Writer of several publications related to the areas of construction litigation and government contracting
  • Named as one of the leading construction law attorneys in the District of Columbia by Chambers USA (2007 to 2013), which describes him as the "team’s go-to lawyer for general contractors ... [he] provides 'wonderful client service' thanks to his 'tremendous breadth of knowledge and contacts'"
  • Included in a list of Super Lawyers by Washington, D.C. Super Lawyers (2011 to 2013)
  • J.D. degree, George Washington University Law School; B.S. degree, cum laude, Ball State University
  • Can be contacted at [email protected] or 202-461-3100
  • For full biography and list of publications, please visit: http://www.foxrothschild.com/attorneys/dirk-haire.html
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Why Lorman?

Over 33 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.

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Pay once and get a full year of unlimited training in any format, any time!

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Product ID: 389905
Published 2013, 2020
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