This is the fourth in the series of Subcontract Negotiation Webinars. The American Subcontractors Association offers its ASA Addendum to Subcontract (2011) as a form to help subcontractors negotiate subcontracts that are more fair and balanced. This series of Webinars is a must attend for any subcontractor.
This webinar covers Payment, Lien and Bond Rights, Performance Bond Restriction Clauses in the ASA Addendum. What does the Addendum say and do for me? How do I use the Addendum and Industry Best Practices to negotiate a fair subcontract? How do the provisions of the "standard subcontract" forms affect me as a subcontractor?
Payment. When do they have to pay me? DO they have to pay me at all? If I am not paid on time, can I walk off the job?
Mechanic's Lien and Payment Bond Rights. If I am not paid on time, can I file a mechanic's lien or bond claim? Can the REALLY write a "No-Lien" contract and get away with it? (the answer is yes, but there's a trick that most GCs don't know that will keep it from hurting you) Can they eliminate my Payment Bond Rights? Even if I can file a lien or bond claim, can I still be paid if the contract has a "Pay-if-Paid" clause?
Performance Bond Restriction. Sometimes the contracts that I am given say that the contractor can require me to get a performance bond, even after I have started work. Can they DO this? Do you think I can get a bond after I started work on the project? If they require that I give a bond, who pays for it? What if I can't get a bond, am I in default? Can the terminate me? Refuse to pay me?
Watch this Webinar to learn the importance of these clauses and how to negotiate with your contractor to get a fair contract.
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