Show navigation

Available in:

OnDemand Course

Is the Price Really Right? A Look at Unit Price Contracts

Understand the issues involved in unit price contracts from the procurement phase of a project through potential disputes.

Construction projects can utilize a variety of pricing arrangements for contracts and change orders. One of the more common pricing methodologies is the 'unit price' arrangement. Unit pricing is considered a fair and equitable way to establish the cost of certain types of work, and, because it is all-encompassing, is relatively easy to administer during the project. However, unit price agreements are not without risk and can expose parties to unforeseen consequences. An understanding of the legal issues involved in unit price contracts from the procurement phase of a project through potential disputes can help owners, design professionals, contractors, subcontractors, and their accountants and lawyers mitigate these potential risks. This topic will examine unit pricing in detail, discuss the advantages and disadvantages as compared to other construction pricing arrangements, and highlight issues that may arise from the bidding stage through contract close out and the resolution of claims and disputes.

Runtime: 94 minutes
Purchase Options

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.

Agenda

Comparison of Basic Pricing Alternatives

  • Lump Sum
  • Cost Plus Fee
  • Guaranteed Maximum Price
  • Time and Materials
  • Unit Prices

Bidding and Unit Prices

  • Bid Mistakes
  • Unbalanced Bids

Adjustment of Unit Prices

  • Equitable Adjustments
    • Qualitative Changes
    • Differing Site Conditions
    • Extras and Changes
  • Variation in Quantity Clauses
  • Cardinal Changes
Purchase Options

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 Course

This course was last revised on October 9, 2018.

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

  • AIA 1.5
     
  • Lorman Education Services is a registered provider of AIA-approved continuing education under Provider Number J2016. This course is approved for 1.5 Learning Unit hour(s). Prerequisite: None, Program Level: Intermediate: Advanced Preparation: None All registered AIA CES Providers must comply with the AIA Standards for Continuing Education Programs. Any questions or concerns about this provider or this learning program may be sent to AIA CES ([email protected] or (800) AIA 3837, Option 3). This learning program is registered with AIA CES for continuing professional education. As such, it does not include content that may be deemed or construed to be an approval or endorsement by the AIA of any material of construction or any method or manner of handling, using, distributing, or dealing in any material or product. AIA continuing education credit has been reviewed and approved by AIA CES. Learners must complete the entire learning program to receive continuing education credit. AIA continuing education Learning Units earned upon completion of this course will be reported to AIA CES for AIA members. Certificates of Completion for both AIA members and non-AIA members are available upon request.
     

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.

  • Those applying for AIA and HRCI must view 100% of the program and answer the questions following the program.

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

Purchase Options

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

Lisa Lombardo

Lisa Lombardo

Gibbons P.C.

  • Promoted to director in the Gibbons P.C. Commercial & Criminal Litigation Department in January 2019
  • Has successfully litigated matters before the state and federal courts of New Jersey and New York, as well as the American Arbitration Association, with a focus on construction matters
  • Her experience in commercial litigation and construction litigation is unique in that she represents both plaintiffs and defendants
  • She served as co-lead counsel in a three-year long arbitration representing a major university in a claim involving extensive and complex design and construction defects, which resulted in a multimillion-dollar award in our client’s favor and the arbitrator striking down a limitation of liability clause
  • Unlike most litigators in the construction arena, she has experience drafting and negotiating contracts, and worked with owners, contractors, subcontractors, and designers on contracts for projects involving academic centers, public schools, laboratory facilities, office buildings, energy facilities, public/private projects, and building additions of varying sizes
  • Selected to the Morris/Essex Health & Life magazine’s “Essex County Top Lawyers” list, construction, 2018
  • Can be contacted at 973-596-4481 or [email protected]
Damian Santomauro

Damian Santomauro

Gibbons P.C.

  • Director at Gibbons P.C. in Newark, New Jersey
  • An experienced construction litigator who appears in federal and State courts, and alternative dispute proceedings, on behalf of private and public clients
  • Advises designers, contractors, and owners on issues that arise during projects, from procurement to completion
  • Team Leader of the firm’s Construction Law & Litigation practice
  • Served as Senior Counsel to the Governor of New Jersey, interacting with State Departments, Commissioners, and the Office of the Attorney General
  • Selected to the New Jersey Super Lawyers Rising Stars list for Construction Litigation
  • He can be reached at 973-596-4586 or [email protected]
Purchase Options

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.

All of your training, right here at Lorman.

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

  • Live Webinars
  • OnDemand Webinars
  • MP3 Downloads
  • Course Manuals
  • Audio Recordings*
  • Executive Reports
  • White Papers and Articles
  • Sponsored Live Webinars

Additional benefits include:

  • State Specific Credit Tracker
  • Members Only Newsletter
  • All-Access Pass Course Concierge

* For audio recordings you only pay shipping

Questions? Call 877-296-2169 to speak with a real person.

Sign Up Today
With This Course

Access to all training products for one year
$699/year

Unlimited Lorman Training

With the All-Access Pass there is no guessing what you will need for your yearly training budget. $699 will cover all of your training needs for an entire year!

Easy Registrations

Once you purchase your All-Access Pass you will never be any further than one-click away from attending any Lorman training course.

Invest in Yourself

You haven't gotten to where you are professionally by luck alone; it's taken a lot of hard work and training. Invest in yourself with the All-Access Pass.

Product ID: 404326
Published 2018
Purchase Options

Available in Multiple Formats

Purchase this course and learn on your schedule!