ELECTRI September Council Room - Contracting Benchmarks and Analytics - Shared screen with speaker view
Who can see your viewing activity?
Please type in questions here or raise your hand at any time. Also feel free to share your experience and best practices among the council.
What is the incentive for a GC to prosue or manage the cash flow. Might the GC and owner have a deal to delay
I'd think that they should be open to milestone billing where they pay the subs x% as each milestone is hit... That is how many manufacturers are handling cash flow for larger/longer lead-time transactions
aren't SOV provisions in place to remedy this issue?
Are there any areas that have legislation/laws that do not allow Pay if paid language?
As a subcontractor, reviewing a contract and marking it up is all well and good, but if I push back too hard, the GC will simply not award me the project and will negotiate with the next lowest bidder. Meanwhile, I don't get the job.
can you clairify one more time what 95% actually means?
todays market has placed the sub contractor in a position to allow all party responsible professional conduct.
I don't think most of us even realize what this means. It has never been my focus when negotiating contracts. Obviously, it should be. But I am not a lawyer. Difficult to discern most important issues.
Getting a contract provision covered by insurance for a specific clause will tell you what the coverage exposure really is. Loyds covers anythings
We have a process that we use by sharing our contracts with our insurance agents to make sure that we are covered. If we are not, they can offer language that is insurable. We have found that when using the approach that we want to work with the GC but we need language that we can insure with our coverages.
The few times we've been successful in getting a cap for a percentage of our contract value is if there is a carve our for bodily injury and property damage and also for damages caused by gross negligence.
the expert in our industry , with data, and trends are bonding companies.
I have had success with capping damages at the cost of the contrcat
how and with whom is this part of our process.
biggest issue (s) we see are proportionality and indemnifying others from their own negligence.
PA is one of only 5 states that still allows broad form indemnity
Phil Rose - Roman ELectric
I've read contract that basically read "If it's your fault, its your fault. If it's our fault, it's your fault. If it's anyone else's fault, it's still your fault." We have always offered alternative language.