Explore the controversies, issues, and legal rights and remedies surrounding pay when paid and pay if paid clauses. Prompt payment is the lifeblood of every construction project. Delayed or missing payments are the harsh reality of many construction projects. Who bears this risk? The general contractor? Their subcontractors? This question often turns on whether the contractors subcontracts contain a pay if paid or a pay when paid clause, which are some of the most negotiated and litigatedarbitrated terms in construction subcontracts today. This course will explore the controversies and legal issues surrounding pay if paid and pay when paid clauses. This course will help those responsible for drafting and negotiating subcontracts to address pay if paid and pay when paid clauses in their dealings and those responsible for administering and enforcing subcontracts better understand the legal position in the event of a dispute.
Introduction When Is Payment Due? • Common Law • Prompt Payment Acts • Pay If Paid Clause • Pay When Paid Clause Different Perspectives on Pay If Paid and Pay When Paid Clauses • Contractor • Subcontractor • Owner Defeating or Avoiding a Pay If Paid Defense • Common Law • State Law • Prevention Doctrine • Recovery From Owner Conclusion • Question and Answers
This live webinar is designed for presidents, vice presidents, contractors, subcontractors, engineers, architects, project managers, contract managers, developers, accountants, controllers, and attorneys.