Washington, D.C. (PRWEB) August 09, 2013
Later this month, WPL Publishing will sponsor a webinar to help parties entering into construction contracts use pricing mechanisms to their benefit.
Construction contract pricing mechanisms serve the obvious purpose of fixing a contractor’s compensation for performing work. Equally important, though, pricing terms serve the function of allocating specific risks between the parties. Parties that are attentive to this risk-allocation function can protect their interests during the contracting process and model their performance in a manner that shields them from unnecessary economic risks. Parties that are ignorant of pricing terms and their effects on risk allocation may incur liabilities or waste money in unforeseen ways, and they may spend resources in resolving disputes that only have minor economic consequences. The webinar is designed to help professionals within the construction community make such pricing mechanisms work for them. To register for the 90-minute event, scheduled for Tuesday, Aug. 20, 2013, at 1:00 p.m. (EDT), visit http://tinyurl.com/ls87erv
Addressing attendees will be Sherman & Howard LLC’s Stephen Hess, who will present an overview of construction contract pricing terms, their role in allocating risks among the parties, and how parties can use pricing mechanisms to their advantage. Webinar attendees will learn the following:
- The ramifications of the two basic construction contract pricing mechanisms and their key variations.
- The key relationship between scope-of-work disputes and pricing mechanisms.
- “Cost of work” and specific issues that arise under cost-plus contracts.
- Different means of pricing change-order and force-account work.
- Individual pricing terms of importance, including differing-site-conditions clauses (from a pricing perspective), variations-in-estimated-quantities clauses, and material-price-escalation clauses.
- Unbalanced bidding in government contracts.
Mr. Hess has been identified as a “Best Lawyer in America” in “Construction Law” and in “Litigation -- Construction” through his practice with Sherman & Howard in Colorado. In addition to serving clients on matters around the country, he is an active author, scholar, and speaker. He edits the American Bar Association’s law review “The Construction Lawyer.” In addition, he has edited “Construction Briefings,” a national construction law review, and national construction law treatises. He has written numerous law review articles on topics covering the breadth of construction law and litigation and has spoken nationally at construction law programs. He serves as an adjunct professor at Sturm College of Law (University of Denver), where he created the school’s Construction Law Seminar. He is a member of the American Arbitration Association’s National Roster of Construction Arbitrators.
After the presentation, there will be an interactive 10-to-15 minute question-and-answer session addressing relevant topics.
Webinar tuition is based on location, not number of participants, so each registration site can have multiple participants for one low price. To register, visit http://tinyurl.com/ls87erv
WPL Publishing Co., Inc. provides expert training, education, and development resources for the construction industry via live webinars and its ConstructionPro Network website (http://www.ConstructionProNet.com). Through ConstructionPro Network, WPL publishes the independent newsletter ConstructionPro Week, providing news, analysis, and insightful commentary about recent developments involving construction law, green buildings, building information modeling, and various construction managerial technologies and techniques.