Register Online - Add to Cart

Credits

Sponsored by Lorman Education
Only registered attendee will receive continuing education credit.
Product ID: 406633
 
Credit & Course Provided by:

Allowances and Contingencies: How to Avoid Disputes

Live Webinar
September 26, 2019
1:00 pm ET (12 pm CT, 11 am MT, 10 am PT)
1 hour 30 minutes
Live Webinar$219Register Now
Can't Attend?   Audio & Reference Manual$219Add to Cart

Understanding the use of allowances and contingencies in your construction project agreement.

Allowances are used on almost all projects to provide for a hedge against uncertainty at the time of the original quote or bid. The quantity for an item of work might not be specifically known, or a product or material might not be selected. The use of allowances can provide a reasonable estimate of unknown items at the time of the original contract, subject to adjustment based upon requirements of future decisions by the owner. Contingencies provide funds for unknown costs for example at the time the parties agree upon a guaranteed maximum price on a cost plus fee amount. This material will discuss terms that determine the rights of the parties to use contingency amounts and the allocation of unused contingency savings at the time of completion.

Learning Objectives

• You will be able to identify types of allowances.

• You will be able to describe types of contingencies.

• You will be able to discuss potential disputes concerning allowances.

• You will be able to explain contractual provisions relating to contingencies.

Registration

Live Webinar$219Register Now
Can't Attend?   Audio & Reference Manual$219Add to Cart