Understanding & Negotiating Contracts (Paperback),by Rs Means (Author)
Understanding and Negotiating Construction Contracts is a practical, no-legalese reference to help you identify and evaluate risky terms and conditions, then negotiate to lower or eliminate the risk, improve terms of payment, and reduce exposure to claims and disputes. Construction is a complex business. Each project has its own unique physical and commercial considerations. Since there's no such thing as a "standard" or "typical" construction project, construction contracts should also not be considered standard. The contractor must carefully manage both in order to have a successful outcome and protect the company's interests and assets.
This book will show you how to identify, understand, and evaluate high-risk terms and conditions typically found in construction contracts then negotiate to lower or eliminate the risk, improve terms of payment, and reduce exposure to claims and disputes. You don't have to be a lawyer to understand the risks and to be able to negotiate better and less risky commercial terms and conditions. The author has written this book without using "legalese," instead providing real-life examples you can relate to from actual projects from small residential and retail to large commercial, industrial, and international work. The author brings 30 years' experience in contracting, claims settlement, and dispute resolution to this very readable book, providing real-life examples from actual projects - from small residential and retail to large commercial, industrial, and international work. Includes:
- Scope of Work and Schedule
- Terms of Payment and Cash Flow
- Assurances of Performance
- Insurance, Bonding, Indemnity and Warranties
- Changes and Disputes
- Damages
- Termination and Suspension
- Force Majeure
- International Contracting
From the Introduction: The Goals of this Book
This book was written with three important goals in mind:
1. Assisting contractors in improving their abilities to identify, understand, and evaluate certain high-risk commercial terms and conditions typically found in all construction contracts.
2. Providing contractors with negotiating suggestions on how to lower or eliminate the risk associated with commercial terms and conditions.
3. Providing straightforward information in as uncomplicated and nonlegalistic a manner as possible. The book will help contractors in their effort to negotiate favorable commercial terms and conditions for their construction contracts. By doing so, this will help lower their commercial risk; assist in improving their terms of payment; and reduce their exposure to claims, disputes, and unnecessary or inappropriate risk transfer and its associated potential financial liability. What Are the Benefits of this Book?
Contractors must be able to identify, understand, and evaluate all the commercial risks that are accepted by agreeing to an owner's proposed contract. They must then be able to effectively minimize and manage those commercial risks - mitigating or eliminating them through negotiations - and thereby lessen their exposure to any potential financial liabilities. This will ultimately protect the assets of their companies. This is the primary benefit of this book. Contents
Chapter 1: Contracts: Basic Training. Chapter 2: Types and Forms of Contracts. Chapter 3: Scope of Work. Chapter 4: Terms of Payment and Cash Flow. Chapter 5: The Schedule. Chapter 6: Assurances of Performance. Chapter 7: Insurance. Chapter 8: Indemnity. Chapter 9: Changes. Chapter 10: Disputes and Their Resolution. Chapter 11: Damages. Chapter 12: Warranties. Chapter 13: Termination and Suspension. Chapter 14: Force Majeure. Chapter 15: Other Contract Clauses. Chapter 16: International Contracting. Chapter 17: Some Final Thoughts on Negotiating Contracts. Resources. Glossary. Index.
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| Description | A Contractor's and Subcontractor's Guide to Protecting Company Assets Understanding and Negotiating Construction Contracts is a practical, no-legalese reference to help you identify and evaluate risky terms and conditions, then negotiate to lower or eliminate the risk, improve terms of payment, and reduce exposure to claims and disputes. Construction is a complex business. Each project has its own unique physical and commercial considerations. Since there's no such thing as a "standard" or "typical" construction project, construction contracts should also not be considered standard. The contractor must carefully manage both in order to have a successful outcome and protect the company's interests and assets. This book will show you how to identify, understand, and evaluate high-risk terms and conditions typically found in construction contracts then negotiate to lower or eliminate the risk, improve terms of payment, and reduce exposure to claims and disputes. You don't have to be a lawyer to understand the risks and to be able to negotiate better and less risky commercial terms and conditions. The author has written this book without using "legalese," instead providing real-life examples you can relate to from actual projects from small residential and retail to large commercial, industrial, and international work. The author brings 30 years' experience in contracting, claims settlement, and dispute resolution to this very readable book, providing real-life examples from actual projects - from small residential and retail to large commercial, industrial, and international work. Includes:
From the Introduction: The Goals of this Book This book was written with three important goals in mind: 1. Assisting contractors in improving their abilities to identify, understand, and evaluate certain high-risk commercial terms and conditions typically found in all construction contracts. 2. Providing contractors with negotiating suggestions on how to lower or eliminate the risk associated with commercial terms and conditions. 3. Providing straightforward information in as uncomplicated and nonlegalistic a manner as possible. The book will help contractors in their effort to negotiate favorable commercial terms and conditions for their construction contracts. By doing so, this will help lower their commercial risk; assist in improving their terms of payment; and reduce their exposure to claims, disputes, and unnecessary or inappropriate risk transfer and its associated potential financial liability. What Are the Benefits of this Book? Contractors must be able to identify, understand, and evaluate all the commercial risks that are accepted by agreeing to an owner's proposed contract. They must then be able to effectively minimize and manage those commercial risks - mitigating or eliminating them through negotiations - and thereby lessen their exposure to any potential financial liabilities. This will ultimately protect the assets of their companies. This is the primary benefit of this book. Contents Chapter 1: Contracts: Basic Training. Chapter 2: Types and Forms of Contracts. Chapter 3: Scope of Work. Chapter 4: Terms of Payment and Cash Flow. Chapter 5: The Schedule. Chapter 6: Assurances of Performance. Chapter 7: Insurance. Chapter 8: Indemnity. Chapter 9: Changes. Chapter 10: Disputes and Their Resolution. Chapter 11: Damages. Chapter 12: Warranties. Chapter 13: Termination and Suspension. Chapter 14: Force Majeure. Chapter 15: Other Contract Clauses. Chapter 16: International Contracting. Chapter 17: Some Final Thoughts on Negotiating Contracts. Resources. Glossary. Index. |
