Contracts 101

You don’t need to be a lawyer to read a contract (though you absolutely want one to), but you do need to understand what you are reading. You also need to understand the major differences between the AIA documents and the new Consensus DOCS. This course will help you learn which clauses to look out for so you can protect your company’s bottom line.

Chapter coordinators, contact education@cfma.org for more information or to schedule this course for their chapter. If you wish to attend a course at a CFMA chapter, see a list of upcoming courses, or visit CFMA’s Education Online website to learn more about CFMA’s web-based education.

Prerequisites:
This is a group-live program at the Basic level. No prerequisites or advanced preparation required. A basic understanding of construction accounting & financial management is recommended.

Program Outline:

  • Contract Basics
  • Construction Contract Subjects
  • How the Deal Can Change
  • Defaults, Claims and Remedies
  • Owner Architect Agreements
  • Construction Liens
  • Contract Boilerplates

When you have completed this course, you will be able to:

  • Understand construction contracts;
  • Understand how contracts shift risk;
  • Identify clauses that may be unforseeable and why;
  • Recognize contract clauses that can hurt you;
  • Propose specific language to manage your risk;
  • Modify contract language to your advantage;
  • Select the standard clauses you should use;
  • Use your lawyer more efficiently

CPE Credit:
This is a 4-hour course that earns 4.0 CPE credits in the Field of Business Law.

Who should take this course:

CFOs, controllers, contract administrators and contract negotiators at all levels of experience, Construction company owners and members of leadership team, Superintendents, project managers and other in-house staff who monitor or apply contract language on a job, and Risk management personnel who assess contract risks.

 

NASBAThe Construction Financial Management Association (CFMA) is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: Web site: www.learningmarket.org.