Which Construction Contract to Use and Key Terms

The landscape of the types of contracts and the key construction terms has changed since COVID for builders. It is more important than ever that builders and contractors select the correct form of a construction agreement and carefully identify the key terms in those contracts. Failure to do so can be the difference between a profitable and successful project and going out of business. 

Course Outline

• TYPES OF CONSTRUCTION CONTRACTS
  • Fixed Price
  • Cost Plus
  • Cost Plus GMP
  • AIA A110
• KEY CONTRACT TERMS
  • Price Escalation
  • Force Majeure
  • Warranties
  • Change Orders
  • No Damage for Delay
  • Pay-If-Paid/Paid-When-Paid
  • Pay-If-Paid
  • Pay-When-Paid
  • Liquidated Damages
  • Consequential Damages
  • Attorney’s Fees
  • Mechanic’s Liens
  • Dispute Resolution
• SUBCONTRACTORS 
  • Subcontractor Agreements
  • Control of Subcontractors

Learner Objectives

Students will have a greater understanding of the various types of construction contracts and the key provisions that can impact the success of their business.

Quiz Info

In order to receive continuing education credit(s), you will need to take a 10-question quiz following the course. To pass the quiz, you will need to achieve a score of 70% or higher. If you are unsuccessful, you will have an opportunity to repeat the quiz. Once you have successfully completed the quiz, you can download your continuing education certificate(s) showing the credit(s) that you have earned.

Credit Info

This course has been approved for one hour of MN residential contractor, remodeler, and roofer continuing education by the Minnesota Department of Labor & Industry and includes the required Business Management credit.

If you are eligible to receive continuing education credits, your information will be electronically reported to the appropriate agency within 3 business days of course completion.

Access Info

Your online course is accessible 24/7. The course will be available to you for 180 days from purchase date.

Questions and Comments

Questions and comments related to the curriculum for this course may be submitted to the instructor at education@housingfirstmn.org.