Construction Contract Pricing Terms
Stephen A. Hess, Esq., Sherman & Howard, LLC
Construction contract pricing mechanisms serve the obvious purpose of fixing the contractor’s compensation for performing work. Just as important, however, pricing terms serve the function of allocating particular risks between the parties. Parties who 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. At the same time, parties who 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 have only minor economic consequences.
In this informative 90-minute webinar program, Stephen A. Hess of Sherman & Howard, LLC 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 benefit. Attend this program to learn:
- 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.
- And much, much more!
Who Will Benefit?
This recorded program is a must if you’re a public or private owner, construction manager, contractor, subcontractor, consultant, architect, engineer or attorney.
Meet Your Presenter:
|Stephen A. Hess has been identified as a Best Lawyer in America in “Construction Law” and in “Litigation – Construction” through his practice with Sherman & Howard, LLC in Colorado. In addition to serving clients on matters around the country, Mr. Hess is an active author, scholar, and speaker. He edits the American Bar Association’s law review The Construction Lawyer and has served as Editor of Construction Briefings, a national construction law review. In addition, he has edited national construction law treatises. Mr. Hess has written numerous law review articles on topics covering the breadth of construction law and litigation, has spoken nationally at construction law programs, has written several treatises on litigation-related issues, and is 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. |