Sub Contractor Contract Writing Series - Subcontract Price and Payment

Explore how subcontracts allocate “credit risk”—the ability of owner and contractor to pay—including a subcontractor’s right to access financial information. When is payment due, and what conditions must be met before a contractor is obligated to pay? What security is available to assure subcontractors that funds will be there to pay subcontractor’s invoices, including liens, stop payment notices, and bond claims, and how may contract terms affect these? Terms addressing withholding and release of retention will also be discussed.

What You Will Learn

• Explore a broad range of issues surrounding all-important payment rights
• Learn to negotiate payment rights and obligations of Prime and Subcontractors
• Learn about the use of tools to protect the right to be paid

Target Audience

Prime and subcontractors

Instructors

Dan McLennon & Ross Steinbach, Smith, Currie & Hancock LLP