By the end of this course you will:

• Understand what a contract is from a legal standpoint and what makes it valid and enforceable.
• Know some key legal principles regarding general contracts and construction contracts.
• Understand why contracts are important in the construction process.
• Learn the difference between a “bidding” contract and the actual construction contract.
• Be able to discern the difference between a letter of intent, a purchase order, and a construction contract.
• Learn about a major cause of construction disputes and why standard industry contract forms can reduce the risk of such disputes.
• Know the different types of construction contracts in terms of project delivery and pricing methods.
• Understand the structure, approach, and key provisions in a typical stipulated/fixed-price or lump-sum construction contract and subcontract.
• Know how to read and understand a typical construction contract and subcontract.

This course consists of 8 lessons of approximately 35 minutes duration each, for a total of about 5 hours of self-paced instruction.