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 most 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 the 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.
Learning Objectives
- You will be able to describe adjustment of unit prices.
- You will be able to identify bidding and unit prices.
- You will be able to recognize variation in quantity clauses.
- You will be able to review comparison of basic pricing alternatives.
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Agenda
| Comparison of Basic Pricing Alternatives | |
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| Bidding and Unit Prices | |
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| Adjustment of Unit Prices | |
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- AR CLE 1.0
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CPE 1.2
- Lorman Education Services is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its web site: www.nasbaregistry.org. For more information regarding administrative policies such as complaint and refund, please contact our offices at 866-352-9539. CPE Credit: Maximum Credit Hours: 1.2 each session (based on a 50 minute credit hour). You must attend at least 50 minutes to obtain credit. Field of Study: . Prerequisite: . Level of Knowledge: Intermediate. Teaching Method: Seminar/Lecture. Advance Preparation: None. Delivery Method: Group Internet Based. Please refer to the information in this brochure for outline, course content and objectives. Upon completion of this course, you will receive a certificate of attendance. Final approval of a course for CPE credit belongs with each state's regulatory board.
Please note: In order to receive CPE credit for this course you MUST use the streaming audio option, as well as enable and complete the required progress checks.
OnDemand Course
This course was last revised on March 24, 2021.
Call 1-866-352-9540 for further credit information.
This program does NOT qualify, nor meet the National Standard for NASBA accreditation.
Who should attend?
This live webinar is designed for presidents, vice presidents, contractors, subcontractors, engineers, architects, project managers, contract managers, developers, accountants, controllers, and attorneys.
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Over 37 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
Gibbons P.C.
- Director in the Gibbons P.C. Commercial & Criminal Litigation Department and Construction Team Leader
- 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
- 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
- Experience drafting and negotiating contracts, and regularly works 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
- On the American Arbitration Association Panel of Construction Arbitrators, a member of the Roster of Mediators, and the New Jersey Superior Court Roster of Mediators, where she has mediated a variety of civil matters
- Can be contacted at [email protected] or 973-596-4500 ext. 4481
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