Understand the issues involved in unit price contracts from the procurement phase of a project through potential disputes.
Construction projects can utilize a variety of pricing arrangements for contracts and change orders. One of the most common pricing methodologies is the unit price arrangement. Unit pricing is considered a fair and equitable way to establish the cost of certain types of work, and because it is all-encompassing, is relatively easy to administer during the project. However, unit price agreements are not without risk and can expose the parties to unforeseen consequences. An understanding of the legal issues involved in unit price contracts from the procurement phase of a project through potential disputes can help owners, design professionals, contractors, subcontractors and their accountants and lawyers mitigate these potential risks. This topic will examine unit pricing in detail, discuss the advantages and disadvantages as compared to other construction pricing arrangements and highlight issues that may arise from the bidding stage through contract close out and the resolution of claims and disputes.
Learning Objectives
- You will be able to describe adjustment of unit prices.
- You will be able to identify bidding and unit prices.
- You will be able to recognize variation in quantity clauses.
- You will be able to review comparison of basic pricing alternatives.
61 minutes
Course Exam
Certificate of Completion
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Agenda
Comparison of Basic Pricing Alternatives
- Lump Sum
- Cost Plus Fee
- Guaranteed Maximum Price
- Time and Materials
- Unit Prices
Bidding and Unit Prices
- Bid Mistakes
- Unbalanced Bids
Adjustment of Unit Prices
- Equitable Adjustments
- Qualitative Changes
- Differing Site Conditions
- Extras and Changes
- Variation in Quantity Clauses
- Cardinal Changes
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Credits
OnDemand Course
Applications have not yet been submitted for Delaware, Idaho, Kentucky, Maine, Ohio, Oklahoma, South Carolina, and Wyoming CLE for this course. However, if you are interested in obtaining CLE for any of the listed states or have any additional credit questions please email us at [email protected] or call us at 866-352-9540.
This course was last revised on May 30, 2024.
Call 1-866-352-9540 for further credit information.
- AR CLE 1.0
- This course has been approved for 1.0 hours of CLE by the Arkansas CLE Board.
- Arizona CLE 1.0
- The Arizona State Bar does not pre-approve or pre-certify MCLE programs. However, records of this program and attendance will be maintained by Lorman Education Services for auditing purposes. This activity may qualify for up to 1.0 hours toward your annual CLE requirement for the State Bar of Arizona.
- CA MCLE 1.0
- Lorman Education Services is a State Bar of California approved MCLE sponsor and this course qualifies for 1.0 CLE hours of participatory credit.
- CT CLE 1.0
- Neither the Connecticut Judicial Branch nor the Commission on Minimum Continuing Legal Education approve or accredit CLE providers or activities. This course has been approved for CLE credit in jurisdictions aside from CT and therefore it automatically meets the content and delivery requirements in Connecticut. Credit is based on a 60 minute credit hour and shall be awarded as follows: 1.0 CLE credit(s).
- GA CLE 1.0
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- HI CLE 1.0
- This program was approved by the Hawaii State Board of Continuing Legal Education for 1.0 CLE credit hours.
- MO CLE 1.2
- This course qualifies for self-study CLE credit in Missouri.
- NH MCLE 1.0
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- VA ENG 1.0
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- VT ENG
- This course is applicable for professional development hours for engineers.*
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- WI ENG 1.0
- This course is applicable for a maximum of 1.0 hours toward the PDH requirement for engineers.*
*The Wisconsin Engineer Section has final authority on the acceptance of individual courses and providers.
- WV ENG 1.0
- This course is applicable for 1.0 professional development hours for engineers.*
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- WY ENG 1.2
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To earn each credit Lorman offers through the OnDemand learning platform, you need to watch 100% of the program. Also, for certain credits you will need to fulfill additional requirements which will be displayed on the "credits" tab when viewing the course.
This program does NOT qualify, nor meet the National Standard for NASBA accreditation.
MP3 Download
- Arizona CLE 1.0
- CA MCLE 1.0
- CT CLE 1.0
- HI CLE 1.0
- NJ CLE 1.3
- NY CLE 1.0 including Areas of Professional Practice 1
- VT CLE 1.0
- WV MCLE 1.3
This program does NOT qualify, nor meet the National Standard for NASBA accreditation.
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Why Lorman?
Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Faculty
Lisa Lombardo
Gibbons P.C.
- Director in the Gibbons P.C. Commercial & Criminal Litigation Department and Construction Team Leader
- Has successfully litigated matters before the state and federal courts of New Jersey and New York, as well as the American Arbitration Association, with a focus on construction matters
- Her experience in commercial litigation and construction litigation is unique in that she represents both plaintiffs and defendants
- Served as co-lead counsel in a three-year-long arbitration representing a major university in a claim involving extensive and complex design and construction defects, which resulted in a multimillion-dollar award in our client’s favor and the arbitrator striking down a limitation of liability clause
- Experience drafting and negotiating contracts, and regularly works with owners, contractors, subcontractors, and designers on contracts for projects involving academic centers, public schools, laboratory facilities, office buildings, energy facilities, public/private projects, and building additions of varying sizes
- On the American Arbitration Association Panel of Construction Arbitrators, a member of the Roster of Mediators, and the New Jersey Superior Court Roster of Mediators, where she has mediated a variety of civil matters
- Can be contacted at [email protected] or 973-596-4500 ext. 4481
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