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Construction Contract Bid Errors
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2/19/2016
When: Friday, February 19, 2016
1:00 PM
Where: Online Webinar
United States

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Lorman Education Webinar.  Approved for 1.5 CPD Credits.  Register online for a discounted rate. 

  

Don't let a bid error cost you a job.

 

In competitive bidding, it is not uncommon for a mistake to be made by a bidder. More often than not, this occurs in the rush to put the bid together before the public bid opening. Sometimes the mistake is the result of simple miscalculation; other times the mistake is the product of poor judgment. Whatever the cause, a defective bid may subject the contractor to potential liability, resulting in substantial monetary damages. This topic helps owners, prime contractors and subcontractors understand consequences of a defective bid and potential remedies in both public and private projects. The topic also explains the various bid bonds available.

 

Learning Objectives

- You will be able to define both clerical and judgmental unilateral mistakes and mutual mistake.

- You will be able to identify potential solutions for your clients embroiled in a bid mistake on both public and private projects.

- You will be able to recognize the strengths and weaknesses of you or your clients' bid mistake to provide sound counsel.

- You will be able to explain the various types of bid bonds and the pros and cons of each.

 

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