{"product_id":"understanding-and-negotiating-construction-contracts-a-contractors-and-subcontractors-guide-to-protecting-company-assets-paperback-softback-9781394150205","title":"Understanding and Negotiating Construction Contracts; A Contractor's and Subcontractor's Guide to Protecting Company Assets (Paperback \/ softback) 9781394150205","description":"\u003cfont face=\"Georgia\"\u003e\r\n\u003cp\u003e\u003cfont size=\"6\"\u003eUnderstanding and Negotiating Construction Contracts\u003c\/font\u003e\u003cbr\u003e\r\n\u003cfont size=\"5\"\u003eA Contractor's and Subcontractor's Guide to Protecting Company Assets\u003c\/font\u003e\u003c\/p\u003e\r\n\r\n\r\n\r\n\r\n\u003cp\u003e\u003cfont size=\"4\"\u003eKit Werremeyer (Author)\u003c\/font\u003e\u003c\/p\u003e\r\n\r\n\u003cp\u003e\u003cfont size=\"3\"\u003e9781394150205, Wiley\u003c\/font\u003e\u003c\/p\u003e\r\n\r\n\u003cp\u003e\u003cfont size=\"3\"\u003ePaperback \/ softback, published 21 August 2023\u003c\/font\u003e\u003c\/p\u003e\r\n\r\n\u003cp\u003e\u003cfont size=\"3\"\u003e384 pages\u003cbr\u003e27.4 x 21.6 x 2.8 cm, 0.862 kg\u003c\/font\u003e\u003c\/p\u003e\r\n\r\n\r\n\r\n\r\n\r\n\u003cp align=\"justify\"\u003e\u003cstrong\u003e\u003cfont size=\"3\"\u003e\u003cb\u003eUnderstanding and Negotiating Construction Contracts\u003c\/b\u003e \u003cp\u003e\u003cb\u003eThe complexities of construction contracts are made easy with this thorough and readable guide\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eConstruction contracts can be complex for both owners and contractors. For contractors, negotiating fair and balanced commercial terms in contracts is just as important as properly managing projects; a properly negotiated contract can mitigate unnecessary risk and unnecessary risk transfer. This, in turn, reduces exposure to financial liability for the contractor and for avoidance of contract claims and disputes.\u003c\/p\u003e \u003cp\u003e\u003ci\u003eUnderstanding and Negotiating Construction Contracts\u003c\/i\u003e provides a comprehensive and readable introduction to the world of construction contracts. Providing, for example, coverage of the four most common types of contracts—lump sum\/fixed-price, cost-plus, time-and-materials, and unit-pricing—it promises to reduce uncertainty and allow contractors to enter contractual negotiations with greater confidence to be able to achieve a fair and balanced contract. This updated new edition reflects the up-to-date best practices to understand how to better negotiate the commercial terms and conditions in construction contracts.\u003c\/p\u003e \u003cp\u003eReaders of the second edition of \u003ci\u003eUnderstanding and Negotiating Construction Contracts\u003c\/i\u003e will also find:\u003c\/p\u003e \u003cul\u003e \u003cli\u003eUpdated information on indemnity, insurance, and negotiation\u003c\/li\u003e \u003cli\u003eAn all-new chapter with a contract analysis checklist\u003c\/li\u003e \u003cli\u003eReal-world examples drawn from small residential, retail, large commercial, and international projects\u003c\/li\u003e \u003c\/ul\u003e \u003cp\u003e\u003ci\u003eUnderstanding and Negotiating Construction Contracts\u003c\/i\u003e is essential for construction professionals and college students studying construction contracts and the liabilities arising out of them.\u003c\/p\u003e\u003c\/font\u003e\u003c\/strong\u003e\u003c\/p\u003e\r\n\r\n\u003cp\u003e\u003cfont size=\"3\"\u003e\u003cp\u003eAcknowledgments xiii\u003c\/p\u003e \u003cp\u003eAbout the Author xv\u003c\/p\u003e \u003cp\u003ePreface xvii\u003c\/p\u003e \u003cp\u003eDisclaimer xix\u003c\/p\u003e \u003cp\u003e\u003cb\u003eIntroduction xxi\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eThe Goals of This Book xxi\u003c\/p\u003e \u003cp\u003eWhat Are the Benefits of This Book? xxi\u003c\/p\u003e \u003cp\u003eContractor \u0026amp; Owner Conventions xxii\u003c\/p\u003e \u003cp\u003ePrivate Contracts or Government Contracts? xxii\u003c\/p\u003e \u003cp\u003eKey Contracting Concepts xxii\u003c\/p\u003e \u003cp\u003eTwo Types of Commercial Terms \u0026amp; Conditions xxiii\u003c\/p\u003e \u003cp\u003eThe Most Important Commercial Terms \u0026amp; Conditions xxv\u003c\/p\u003e \u003cp\u003eThe Contracting Process xxv\u003c\/p\u003e \u003cp\u003eTerms \u0026amp; Conditions xxv\u003c\/p\u003e \u003cp\u003eThe Concept of Risk Transfer xxvi\u003c\/p\u003e \u003cp\u003eThis Is a Book Developed Just for Contractors xxvii\u003c\/p\u003e \u003cp\u003eThree Final Suggestions xxvii\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 1: Contracts: Basic Training 1\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eWhat Is a Contract? 1\u003c\/p\u003e \u003cp\u003eThe Steps to a Contract 1\u003c\/p\u003e \u003cp\u003eComing to the Party? 2\u003c\/p\u003e \u003cp\u003eThe Starting Point 3\u003c\/p\u003e \u003cp\u003e“Here’s My Proposal” 4\u003c\/p\u003e \u003cp\u003e“Consideration,” or Something of Value 5\u003c\/p\u003e \u003cp\u003eThe “Happy Test” 5\u003c\/p\u003e \u003cp\u003e“Can That Person Sign This Contract?” 6\u003c\/p\u003e \u003cp\u003eCall in the Enforcer to Close the Breach! 6\u003c\/p\u003e \u003cp\u003eA Contract Example 8\u003c\/p\u003e \u003cp\u003eStrange Words \u0026amp; Long Paragraphs 10\u003c\/p\u003e \u003cp\u003eContracting Myths 11\u003c\/p\u003e \u003cp\u003eContract Negotiations 12\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 2: Types \u0026amp; Forms of Contracts 15\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eFixed Price \u0026amp; Fixed Schedule Contracts 16\u003c\/p\u003e \u003cp\u003eReimbursable Type Contracts 16\u003c\/p\u003e \u003cp\u003eCombined Fixed Price \u0026amp; Reimbursable Contracts 18\u003c\/p\u003e \u003cp\u003eCost Plus Fee Contracts 20\u003c\/p\u003e \u003cp\u003eGuaranteed Maximum Price Contracts 21\u003c\/p\u003e \u003cp\u003eTarget Price Contracts 21\u003c\/p\u003e \u003cp\u003eContracts with Performance Incentives 22\u003c\/p\u003e \u003cp\u003eForm of Contracts 23\u003c\/p\u003e \u003cp\u003eSome Final Contract Housekeeping— Definitions 30\u003c\/p\u003e \u003cp\u003eConclusion 32\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 3: Scope of Work 33\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eThe Scope of Work Matrix 37\u003c\/p\u003e \u003cp\u003eScoping Drawings 39\u003c\/p\u003e \u003cp\u003eConclusion 40\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 4: Terms of Payment \u0026amp; Cash Flow 41\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eCash Flow 42\u003c\/p\u003e \u003cp\u003eInterest Rates 44\u003c\/p\u003e \u003cp\u003ePeriodic Progress \u0026amp; Milestone Payments 45\u003c\/p\u003e \u003cp\u003eConclusion 59\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 5: The Schedule 61\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eFloat 62\u003c\/p\u003e \u003cp\u003eTime Is of the Essence 64\u003c\/p\u003e \u003cp\u003eExtra Time, but No Money 66\u003c\/p\u003e \u003cp\u003eConclusion 68\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 6: Assurances of Performance 69\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eGuaranties \u0026amp; Bonds 70\u003c\/p\u003e \u003cp\u003eWhat Does “Failure to Perform” Mean? 72\u003c\/p\u003e \u003cp\u003eWhat Is a Bond? 72\u003c\/p\u003e \u003cp\u003eForms of Assurances of Performance 73\u003c\/p\u003e \u003cp\u003eSurety Companies 78\u003c\/p\u003e \u003cp\u003eSome Language Considerations on Guaranties \u0026amp; Bonds 82\u003c\/p\u003e \u003cp\u003eTypes of Performance Assurances 82\u003c\/p\u003e \u003cp\u003eConclusion 101\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 7: Insurance 103\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eWhat Is Insurance? 104\u003c\/p\u003e \u003cp\u003eClaims Made vs. Occurrence 105\u003c\/p\u003e \u003cp\u003eTypes of Insurance 106\u003c\/p\u003e \u003cp\u003eImportant Issues Associated with Insurance 112\u003c\/p\u003e \u003cp\u003eAdditional Insured Status 120\u003c\/p\u003e \u003cp\u003eAdditional Insurance Basics 121\u003c\/p\u003e \u003cp\u003eA Typical Insurance Clause in a Construction Contract 134\u003c\/p\u003e \u003cp\u003eSafety 140\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 8: Indemnity 141\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eInsurance \u0026amp; Indemnity 142\u003c\/p\u003e \u003cp\u003eIndemnity Definitions 142\u003c\/p\u003e \u003cp\u003eTransferring the Owner’s Risks to Contractors 143\u003c\/p\u003e \u003cp\u003eFairness Is Not a Consideration 143\u003c\/p\u003e \u003cp\u003eIs an Indemnity Required in a Construction Contract? 144\u003c\/p\u003e \u003cp\u003eAnti- Indemnity Legislation 144\u003c\/p\u003e \u003cp\u003eExamples of Indemnification Clauses 150\u003c\/p\u003e \u003cp\u003eIndemnification, Additional Insured Status, \u0026amp; Contractual Liability Insurance 157\u003c\/p\u003e \u003cp\u003eOwners Love CLAIMS! 161\u003c\/p\u003e \u003cp\u003eNegotiating Indemnity Clauses 162\u003c\/p\u003e \u003cp\u003eKnock- for- Knock Indemnities 165\u003c\/p\u003e \u003cp\u003eConclusion 166\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 9: Changes 169\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eSome Ground Rules 170\u003c\/p\u003e \u003cp\u003eProtecting the Project Manager 170\u003c\/p\u003e \u003cp\u003eOwners’ Directives 171\u003c\/p\u003e \u003cp\u003eConstructive Changes 171\u003c\/p\u003e \u003cp\u003ePayment for Changes 172\u003c\/p\u003e \u003cp\u003eSample Change Clauses 172\u003c\/p\u003e \u003cp\u003eMajor Contract Changes 178\u003c\/p\u003e \u003cp\u003eNegotiating Change Clauses 179\u003c\/p\u003e \u003cp\u003eConclusion 180\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 10: Disputes \u0026amp; Their Resolution 183\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eWhat’s a Project Manager to Do? A Short Story to Start With 183\u003c\/p\u003e \u003cp\u003eDisputes— The Construction Contract’s Bad Actor 184\u003c\/p\u003e \u003cp\u003eAn Ounce of Prevention 186\u003c\/p\u003e \u003cp\u003eDispute Resolution Options 186\u003c\/p\u003e \u003cp\u003eThe Folks who Negotiate, Mediate, Arbitrate, \u0026amp; Litigate 188\u003c\/p\u003e \u003cp\u003eDispute Resolution Clauses 189\u003c\/p\u003e \u003cp\u003eConclusion 192\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 11: Damages 193\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eBreach of Contract\/Failure to Perform 194\u003c\/p\u003e \u003cp\u003eContractors’ Financial Exposure 194\u003c\/p\u003e \u003cp\u003eActual Damages— A Silent Risk? 194\u003c\/p\u003e \u003cp\u003eLiquidated Damages 196\u003c\/p\u003e \u003cp\u003eConsequential Damages 204\u003c\/p\u003e \u003cp\u003eConclusion 206\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 12: Warranties 207\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eA Workable Definition of Warranty 207\u003c\/p\u003e \u003cp\u003eWarranty Issues 208\u003c\/p\u003e \u003cp\u003eThe Uniform Commercial Code 214\u003c\/p\u003e \u003cp\u003eWhen Is No Warranty Appropriate? 217\u003c\/p\u003e \u003cp\u003eExtended Duration Warranties 219\u003c\/p\u003e \u003cp\u003eLimiting Provisions in Warranties 221\u003c\/p\u003e \u003cp\u003ePass- Through Warranties 221\u003c\/p\u003e \u003cp\u003eLatent Defects \u0026amp; Warranty 222\u003c\/p\u003e \u003cp\u003eA Sample Warranty 224\u003c\/p\u003e \u003cp\u003eConclusion 224\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 13: Termination \u0026amp; Suspension 227\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eTermination for Cause 228\u003c\/p\u003e \u003cp\u003eTermination for Convenience 229\u003c\/p\u003e \u003cp\u003eSuspension 232\u003c\/p\u003e \u003cp\u003eCancellation 236\u003c\/p\u003e \u003cp\u003eConclusion 236\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 14: Force Majeure 239\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eNegotiating Clauses 239\u003c\/p\u003e \u003cp\u003eSample Contract Language 240\u003c\/p\u003e \u003cp\u003eConclusion 244\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 15: Other Contract Clauses 245\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eSite Conditions 246\u003c\/p\u003e \u003cp\u003eUse of Completed Portions of the Work 251\u003c\/p\u003e \u003cp\u003ePatent Indemnity 252\u003c\/p\u003e \u003cp\u003eSecrecy \u0026amp; Confidentiality Clauses \u0026amp; Agreements 253\u003c\/p\u003e \u003cp\u003eOwner’s Right to Inspect 254\u003c\/p\u003e \u003cp\u003eIndependent Contractors 257\u003c\/p\u003e \u003cp\u003eAssignment 258\u003c\/p\u003e \u003cp\u003eAcceptance \u0026amp; the Punch List 260\u003c\/p\u003e \u003cp\u003eAdvance \u0026amp; Partial Waiver of Liens 262\u003c\/p\u003e \u003cp\u003eFinal Waiver of Liens 265\u003c\/p\u003e \u003cp\u003eAudit Rights 268\u003c\/p\u003e \u003cp\u003eSeverability or Validity Clauses 269\u003c\/p\u003e \u003cp\u003eVenue \u0026amp; Applicable Law 269\u003c\/p\u003e \u003cp\u003eFlorida Civil Code Chapter 47 Venue 270\u003c\/p\u003e \u003cp\u003eTexas Business \u0026amp; Commercial Code Annotated §272.001 271\u003c\/p\u003e \u003cp\u003eVenue and Choice of Law State Statutes 271\u003c\/p\u003e \u003cp\u003eContractual Rendition? 271\u003c\/p\u003e \u003cp\u003eChanges in the Law 272\u003c\/p\u003e \u003cp\u003eSome Interesting Clauses to Close 273\u003c\/p\u003e \u003cp\u003eChapter 16: A Construction Contractor’s Contract Checklist 275\u003c\/p\u003e \u003cp\u003eChapter 17: International Contracting 283\u003c\/p\u003e \u003cp\u003eInternational Contracts 284\u003c\/p\u003e \u003cp\u003eThe U.S. Foreign Corrupt Practices Act 285\u003c\/p\u003e \u003cp\u003eLetters of Credit 286\u003c\/p\u003e \u003cp\u003eSplit Contracts: Onshore \u0026amp; Offshore Contracts 288\u003c\/p\u003e \u003cp\u003ePolitical, Religious, \u0026amp; Economic Risks 289\u003c\/p\u003e \u003cp\u003eOverseas Private Investment Corporation (OPIC) 290\u003c\/p\u003e \u003cp\u003eLegal Systems in Foreign Countries 290\u003c\/p\u003e \u003cp\u003eLocal Employees, Partners, \u0026amp; Agents 291\u003c\/p\u003e \u003cp\u003eOffshore Companies 292\u003c\/p\u003e \u003cp\u003eCurrency Risks 293\u003c\/p\u003e \u003cp\u003eApplicable Law 297\u003c\/p\u003e \u003cp\u003eJoint Ventures 299\u003c\/p\u003e \u003cp\u003eJoint Operations 299\u003c\/p\u003e \u003cp\u003eImport \u0026amp; Export Considerations 300\u003c\/p\u003e \u003cp\u003eUnderstanding INCOTERMS 302\u003c\/p\u003e \u003cp\u003eThe Export‐ Import Bank of the United States 305\u003c\/p\u003e \u003cp\u003eWhere to Get Some Help— Ask the U.S. Government 306\u003c\/p\u003e \u003cp\u003eLastly, Use the Right Paper Size! 307\u003c\/p\u003e \u003cp\u003eConclusion 307\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 18: What’s It Take to Do Business in Southeast Asia? 309\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003ePatience Is Golden 310\u003c\/p\u003e \u003cp\u003eWalk the Talk 310\u003c\/p\u003e \u003cp\u003eTime and Money 311\u003c\/p\u003e \u003cp\u003eThe US Foreign Corrupt Practices Act 312\u003c\/p\u003e \u003cp\u003eCenter for Strategic and International Studies 313\u003c\/p\u003e \u003cp\u003eTrans Pacific Partnership (TPP) 314\u003c\/p\u003e \u003cp\u003eBackdoor to China and India 314\u003c\/p\u003e \u003cp\u003eSPECIAL Section— The Socialist Republic of Vietnam (Vietnam) 316\u003c\/p\u003e \u003cp\u003eResources for Business in Southeast Asia 317\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 19: Some Final Thoughts on Negotiating Contracts 319\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eWhy Negotiate? 320\u003c\/p\u003e \u003cp\u003eThe Concept of Standard Terms \u0026amp; Conditions 320\u003c\/p\u003e \u003cp\u003eRisk Transfer Item 1: Get Rid of the Indemnity Clause! 322\u003c\/p\u003e \u003cp\u003eRisk Transfer Item 2: Don’t Provide Additional Insured Status 323\u003c\/p\u003e \u003cp\u003eRisk Transfer Clauses, Insurance, \u0026amp; Safety 323\u003c\/p\u003e \u003cp\u003eHow to Say No without Aggravating the Owner 324\u003c\/p\u003e \u003cp\u003eThe Worst Contracting Word: “Reasonable” 324\u003c\/p\u003e \u003cp\u003eThe Best Contracting Word: “Notwith- standing” 325\u003c\/p\u003e \u003cp\u003eWin- Win \u0026amp; Lose- Lose in Contract Negotiations— Fairy Tales? 326\u003c\/p\u003e \u003cp\u003eIs There a Price for Bad Commercial Terms \u0026amp; Conditions? 327\u003c\/p\u003e \u003cp\u003eTerms of Payment 327\u003c\/p\u003e \u003cp\u003eSome Tips on Successful Negotiating 328\u003c\/p\u003e \u003cp\u003eThree First (and Final) Suggestions 328\u003c\/p\u003e \u003cp\u003eResources 329\u003c\/p\u003e \u003cp\u003eGlossary 333\u003c\/p\u003e \u003cp\u003eIndex 349\u003c\/p\u003e\u003c\/font\u003e\u003c\/p\u003e\r\n\r\n\u003cp\u003e\u003cfont size=\"3\"\u003eSubject Areas: Civil engineering, surveying \u0026amp; building [\u003ca title=\"See our other books on Civil engineering, surveying \u0026amp; building\" href=\"https:\/\/freshlyprintedbooks.co.uk\/search?q=%22Civil%20engineering,%20surveying%20\u0026amp;%20building%20%5BTN%5D%22\"\u003eTN\u003c\/a\u003e]\u003c\/font\u003e\u003c\/p\u003e\r\n\r\n\r\n\u003c\/font\u003e","brand":"Wiley","offers":[{"title":"Brand New","offer_id":52173803618584,"sku":"9781394150205","price":60.97,"currency_code":"GBP","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0730\/2037\/5320\/files\/9781394150205.jpg?v=1781172593","url":"https:\/\/freshlyprintedbooks.co.uk\/products\/understanding-and-negotiating-construction-contracts-a-contractors-and-subcontractors-guide-to-protecting-company-assets-paperback-softback-9781394150205","provider":"Freshly Printed Books","version":"1.0","type":"link"}