Gain an understanding of project delivery methods, their implications and the current legal landscape.
Supply chain issues, steel and aluminum tariffs, and fuel inflation are changing the construction industry. Contractors and Owners/Developers are having frank discussions about how to handle these issues. There are a variety of approaches - including formulas for time extensions and price increases for supply change issues, adjustments to "or equal" requirements, new flexibility on FFE, particularly as to color schemes for tile, paint, flooring, fuel surcharge allowances, use of allowances for materials and equipment, and pressures to shift to modified cost plus and flexible fixed price arrangements. This program will discuss the basic differences between these two approaches, types of contracts, and the pros and cons of each form of agreement. Equally important, this program will point out how these types of contracts and the underlying risks for each are being considered and evaluated in the present market conditions.
Learning Objectives
- You will be able to explain the reasons for selecting fixed price or cost plus.
- You will be able to identify risk issues both financial and as to the physical work based on a specific project and/or associated contract.
- You will be able to recognize the features of a contract to distinguish between fixed price and cost plus.
- You will be able to review a contract to evaluate the relevant considerations for either a cost plus or a fixed price.
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Why Lorman?
Over 38 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
Fixed Price V. Cost-Plus Contracts
- Risk Allocation, Physical Work
- Risk Allocation, Financial
- Close out Audit
- Mitigation of Risks
Differences in Administering Fixed Price and Cost-Plus
- Advertising and Award
- Change Order, Pricing and Approvals, Supply Chain
- Scheduling, Submittals, and RFIs
- Role of the Architect
Fixed Price and Antitrust Issues
- Bid Rigging
- Price Fixing
- Kickbacks
Cost-Plus and Fraud Issues
- Fiduciary Duty
- Fraud
- Examples
The Future Under Fixed Price and Cost-Plus
- Supply Chain Issues
- Inflation
- Impact of New Software's and AI
- Increasing Transparency
- Increasing Criminalization of Contract Issues
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Credit
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Why Lorman?
Over 38 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 Course
This course was last revised on September 20, 2022.
Call 1-866-352-9540 for further credit information.
- AK CLE 1.0
- Alaska attorneys may receive 1.0 hours of continuing legal education for completing this program. Please contact the Alaska Bar Association or go to www.alaskabar.org for details regarding reciprocity with other states.
- AL CLE 1.2
- This course or a portion thereof has been approved by the Alabama State Mandatory Continuing Legal Education Commission for a maximum of 1.2 hours credit.
- Arizona CLE 1.0
- The Arizona State Bar does not pre-approve or pre-certify MCLE programs. However, records of this program and attendance will be maintained by Lorman Education Services for auditing purposes. This activity may qualify for up to 1.0 hours toward your annual CLE requirement for the State Bar of Arizona.
- CA MCLE 1.0
- Lorman Education Services is a State Bar of California approved MCLE sponsor and this course qualifies for 1.0 CLE hours of participatory credit.
- CT CLE 1.0
- Neither the Connecticut Judicial Branch nor the Commission on Minimum Continuing Legal Education approve or accredit CLE providers or activities. This course has been approved for CLE credit in jurisdictions aside from CT and therefore it automatically meets the content and delivery requirements in Connecticut. Credit is based on a 60 minute credit hour and shall be awarded as follows: 1.0 CLE credit(s).
- GA CLE 1.0
- This program has been approved by the Georgia Commission on Continuing Lawyer Competency for 1.0 CLE hours.
- MO CLE 1.3
- This course qualifies for self-study CLE credit in Missouri.
- NM CLE 1.1
- This program has been approved by the New Mexico Minimum Continuing Legal Education Board for 1.1 hours of credit.
- VT CLE 1.0
- This self-study program has been approved by the Mandatory Continuing Legal Education Board of Vermont for 1.0 hour(s) of CLE credit. Please note: Attorneys may only claim 12 credits per compliance period in this format. This course is considered "Non-Moderated Programming without Interactivity".
- WA CLE 1.25
- This program has been approved by the Washington State Board of Continuing Legal Education for 1.25 hours of A/V credit under the Law & Legal Procedure category.
To earn each credit Lorman offers through the OnDemand learning platform, you need to watch 100% of the program. Also, for certain credits you will need to fulfill additional requirements which will be displayed on the "credits" tab when viewing the course.
This program does NOT qualify, nor meet the National Standard for NASBA accreditation.
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Why Lorman?
Over 38 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
Carol A. Sigmond
Greenspoon Marder LLP
- Partner in the New York office of Greenspoon Marder LLP
- Concentrates her practice on construction industry matters, including contract preparation, mediation, litigation, suretyship, bid protests, appeals, and arbitration
- Extensive experience in litigation of construction disputes for public works and buildings in both the public and private sectors
- Experienced mediator and is on the New York County Supreme Court Commercial Division Roster of Volunteer Mediators and the American Arbitration Association’s Roster of Construction Industry Arbitrators
- Former President of the New York County Lawyers’ Association, former Vice President of the New York State Bar Association for the 1st Judicial Department, and member of the New York Building Congress, GCA New York, SCL North America, CLSA, ABA, New York State Bar Association and New York County Lawyers Association
- Frequent speaker and author on topics relating to Construction Law
- J.D. degree, The Catholic University of America School of Law; B.A. degree, Grinnell College
- Can be contacted at (212) 524-5074 or [email protected]
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Why Lorman?
Over 38 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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