+353-1-416-8900REST OF WORLD
+44-20-3973-8888REST OF WORLD
1-917-300-0470EAST COAST U.S
1-800-526-8630U.S. (TOLL FREE)

PRINTER FRIENDLY

Is the Price Really Right? A Look at Unit Price Contracts - Webinar

  • ID: 4606174
  • Webinar
  • October 2018
  • Region: Global
  • 90 Minutes
  • Lorman Business Center, Inc.
1 of 4
Understand the issues involved in unit price contracts from the procurement phase of a project through potential disputes.

Construction projects can utilize a variety of pricing arrangements for contracts and change orders. One of the more common pricing methodologies is the unit price arrangement. Unit pricing is considered a fair and equitable way to establish the cost of certain types of work, and, because it is all encompassing, is relatively easy to administer during the project. However, unit price agreements are not without risk and can expose parties to unforeseen consequences. An understanding of the legal issues involved in unit price contracts from the procurement phase of a project through potential disputes can help owners, design professionals, contractors, subcontractors, and their accountants and lawyers mitigate these potential risks. This topic will examine unit pricing in detail, discuss the advantages and disadvantages as compared to other construction pricing arrangements, and highlight issues that may arise from the bidding stage through contract close out and the resolution of claims and disputes.

Learning Objectives
  • You will be able to describe adjustment of unit prices.
  • You will be able to identify bidding and unit prices.
  • You will be able to recognize variation in quantity clauses.
  • You will be able to review comparison of basic pricing alternatives.
Note: Product cover images may vary from those shown
2 of 4
Comparison of Basic Pricing Alternatives
  • Lump Sum
  • Cost Plus Fee
  • Guaranteed Maximum Price
  • Time and Materials
  • Unit Prices
Bidding and Unit Prices
  • Bid Mistakes
  • Unbalanced Bids
Adjustment of Unit Prices
  • Equitable Adjustments
  • Qualitative Changes
  • Differing Site Conditions
  • Extras and Changes
  • Variation in Quantity Clauses
  • Cardinal Changes
Note: Product cover images may vary from those shown
3 of 4
Lisa Lombardo - Gibbons P.C., Damian Santomauro - Gibbons P.C.
Note: Product cover images may vary from those shown
4 of 4
This webinar is designed for presidents, vice presidents, contractors, subcontractors, engineers, architects, project managers, contract managers, developers, accountants, controllers and attorneys.
Note: Product cover images may vary from those shown
Adroll
adroll