Construction Contract Wordings - Intermediate - Searchlight Insurance Training

Construction Contract Wordings – Intermediate

This one day interactive workshop provides training for those who already have some practical experience of handling or placing Contractors Insurance, but who are looking to add to this knowledge.

It provides a structured overview of the subject which will act as either a learning opportunity for those less experienced or a refresher for the more experienced.

Level: Intermediate

Duration: 1 day(s) CII CPD Hours: 6
     

WORKSHOP OBJECTIVES

• Explain the difference between contractual obligations and insurance requirements and why this should be considered by the Contractor, the Employer and the financier

• Describe the different project strategies and how they can affect the choice of contract conditions to apply

• Explain in detail the content of the insurance clauses within the JCT contracts

• Outline other commonly used standard contract terms

• Describe how the standard structure and content of both Contract Works and Contractors Liability Insurance policies are designed to comply with standard contract conditions

• Describe the purpose of collateral warranties in construction

• Explain how construction contracts affect the underwriting of contractors policies

• Outline the adjudication and litigation processes within the UK

WORKSHOP CONTENT

• Need for contracts in construction

  • Parties and Terminology
  • Simple, Standard & Complex
  • Contractual Obligations and Insurance Requirements

• Choice of contracts

  • Project Strategies & Risk allocation

• Contract Conditions

  • Detailed look at JCT Standard Form of Contracts
  • Overview of
    •  Contractors Plant Association
    • NEC Engineering and Construction Contract
    • FIDIC
  • Usual Cover, including Exclusions and Extensions of
    • Contract Works Policy
    • Liability Policy
    • Design & Build Cover

• Describe the purpose of collateral warranties in construction.

• Placing and Rating Risks

  • How the contract affects the underwriting of the risk

• What happens when it all goes wrong

  • The adjudication process
  • The pre-action protocols