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Credits

Sponsored by Lorman Education
Product ID: 400367EAU
 
Credit & Course Provided by:

Avoiding the Risk of Subcontractor Default

OnDemand Webinar (88 minutes)

Learn best practice procedures for prequalifying subcontractors and managing subcontractor default risk.Learn the elements of effectively protecting your company when contracting with trade subcontractors for construction projects. Learn the steps to take to check the ability of a subcontractor to perform a project on time. Receive critical subcontract provisions to include in your invitation to bid and your subcontract form. Finally, you will learn the specific steps to take when the subcontractor's performance fails to meet your standards, as well as effectively putting a surety on notice to take action. This information will also look at risks from the subcontractor's perspective, to avoid situations beyond the financial capacity and control which affect the subcontractor's performance.

Authors

Nicholas S. Papleacos, Chamberlain, Hrdlicka, White, Williams & Aughtry

Agenda

The Risks of Subcontracting

• Before the Project Starts - Evaluating the Subcontractor

• Traits of a Successful Subcontractor

• Bid Form - What to Require From the Subcontractor

• Insurance Against Failure to Perform

• Protection Against Bankruptcy

• Surety Bonds

Important Contract Provisions

• The Schedule

• Cure Provision

• Payment Terms

When Trouble Appears

• Default Termination Provisions

• Replacing a Subcontractor

• Notices to the Surety for Performance Bond

Additional Formats

Audio & Reference ManualMore Info
MP3 DownloadMore Info