Contract Provisions for Business Owners: Bulletproof Terms You Need to Know
|OnDemand Webinar||$199||Add to Cart|
Learn to quickly recognize risky clauses, better understand the risks those clauses create, and how to reduce or eliminate those risks before you sign the contract.Almost every contract dispute ends up being controlled by the contract or purchase order terms and conditions. Too often companies sign a contract or purchase order without fully understanding the agreement they have become bound to. For many, reading a contract is like reading a foreign language. This topic will teach you how to translate the convoluted terms of a contract, how to determine if there is a problem hidden within a clause, and how to deal with that problematic clause. Often, participants in a construction project enter into contracts without knowing how to read the clauses and fully recognize the risks they have taken on. The benefit of this material is that you will be able to quickly recognize risky clauses, better understand the risks those clauses create and how to reduce or eliminate those risks before you sign the contract. You will also learn which phrases aggravate that risk and how you can minimize the risk where you have already signed a bad contract.
AuthorsLarry P. Lubka, Hunt Ortmann Palffy Nieves Darling & Mah, Inc.
What Terms Should Be in Your Contract and What Terms Should Not Be There?
What Clauses Get Companies in Trouble?
Incorporation by Reference
• Industry Standards
• Standard Conditions
• Statutes and Codes
• The Bid and Other Documents That Have Been Incorporated by Reference Can Sneak up on You
Why the First Few Paragraphs of the Contract Are so Important
Key Clauses, Including Review of
• Plans and Specifications
• Payment Requirements
• Order of Precedence
• And Much, More
Key Phrases That Warn You of Danger, Such as Sole Discretion