Webinar: Contracts and Contract Provisions
Presenter: Colleen Palmer, Head of Professions Risk Management, Beazley Insurance
Date Recorded: 24 October 2017
Duration: 1 Hr 33 min
Does reading or reviewing an engineering contract make you uncomfortable? Do you ever consider what certain legal terminology means or what important information might be missing from the contract you are about to enter into? Have you ever missed the “fine print” in a contract or been unsure of what you are looking for? Because engineering professionals must insure that contracts protect their business, reputation and livelihood, the ability to understand contracts and contract language is a key skill.
Please join representatives from Mercer Consumer, the IEEE Member Group Insurance Program Administrator, as well as representatives from Beazley Insurance for an informative webinar that will cover the basics of what you should know to confidently review and understand everyday engineering contracts and professional service agreements.
In this webinar, we discuss the importance of a well-drafted professional services agreement. We will talk about some of the critical risk management provisions that should be addressed in all professional services agreements and discuss ways to deal with poorly drafted provisions proposed by clients.
- Discuss the importance of contract negotiations and insight that may be gained from the process;
- Identify important contract provisions that are frequently the subject of difficult negotiations;
- Consider the risk management implications associated with poorly worded provisions and ways to modify the language; and
- Learn about the potential advantages associated with favorably-drafted provisions.
Both new and experienced engineers looking to gain valuable insight regarding the importance of a contract as a key document that defines the parties, responsibilities and rights in connection with a project.
About the Presenter
Colleen Palmer joined Beazley in December 2007 as an A&E Risk Manager and is based in the New York office. Before joining Beazley, Colleen was a practicing attorney in Boston, MA, where she focused on assisting architects and engineers. She specialized in providing risk management services to design professionals on a nationwide basis, including conducting risk management seminars and advising on contractual issues. Colleen earned her Bachelor of Science degree in Biology from Cornell University and her Juris Doctor, cum laude, from the University of Miami School of Law.