Understanding and Negotiating Construction Contracts: A Contractor's and Subcontractor's Guide to Protecting Company Assets (RSMeans) - Softcover

Werremeyer, Kit

Softcover

ISBN 10: 0876298226 ISBN 13: 9780876298220

Publisher: RSMeans, 2007

Synopsis

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 help you manage all these elements of the contract:

• Scope of work and schedule
• Terms of payment and cash flow
• Assurances of performance
• Insurance, bonding, indemnity, and warranties
• Changes to the contract
• Disputes and their resolution
• Damages
• Termination and suspension
• Force majeure
• International contracting

About this title

From the Back Cover

Understanding & NegotiatingConstruction Contracts

Kit Werremeyer

A Contractor's & Subcontractor's Guide to Protecting Company Assets

A practical desk reference to help identify and evaluate risky commercial terms and conditions, then negotiate or get help to resolve them.

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 not be looked on as standard either. They must be carefully managed in order to have a successful outcome and to 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.

This book will help you manage all these elements of the contract:

Scope of Work & Schedule

Terms of Payment & Cash Flow

Assurances of Performance

Insurance, Bonding, Indemnity, & Warranties

Changes to the Contract

Disputes & Their Resolution

Damages

Termination & Suspension

Force Majeure

International Contracting

About the Publisher:

RSMeans is the foremost source of construction cost information in North America, with 27 annual cost data products, a nationwide seminar program, and consulting services. Means also offers a library of reference books on construction estimating, project management, and many other topics.

About the Author

About the Author:

Kit Werremeyer is the owner and president of Southernstar Consultants LLC, of Valrico, Florida, a provider of training in construction contract negotiations and management and other services for U.S. and international engineering and construction companies. He has more than 30 years' experience in international sales, contracting, claims settlement, dispute resolution, and EPC project development, including work for major companies such as Bechtel, Kellogg Brown & Root, Fluor, J.A. Jones, Black & Veatch, DuPont, Shell Oil, Exxon/Mobil, BP/Amoco/ARCO, and many others.

Edition details

• Publisher: RSMeans
• Publication date: 2007
• ISBN 10: 0876298226
• ISBN 13: 9780876298220
• Binding: Paperback
• Language: English
• Edition number: 1
• Number of pages: 320