A Better Construction Contract

This 2-hour online interactive course examines two types of Owner-Contractor agreements: (1) stipulated sum, and (2) cost plus a fee with a guaranteed maximum price (often called "GMP") The use of general conditions with both types of contracts is assumed in this course and particular attention is paid to the general conditions as they constitute the bulk of the contract whether it is a stipulated sum or GMP type. This course assumes some familiarity with the AIA documents, the contractually defined roles of the Owner, Contractor, and Architect, and the interrelationship of the Contract Documents, such as the Agreement, General Conditions, and Drawings and Specifications. We will follow the organization of the AIA documents as a starting point. Consequently, the term "architect" will typically be employed, but the principles discussed in this course can apply to other design professionals as well. References to relevant sections of the AIA documents are included in parentheses throughout.

As we review the two types of Owner-Contractor agreements, this course identifies major contract issues, performance problem areas, and definitions of important terms. Issues which are likely to cause conflict or generate disputes are identified. Subjects which often appear obscure to design professionals, such as insurance, are discussed.

A test is included in at the end of this course.
Vector Solutions has a long history of providing industry-specific content for its customers. While this course and its content remain accurate and functional within our systems, the look and feel may not match our more modern offerings.