Webinar: Contracts and Contract Provisions - Other Important Aspects to Consider

Presenter: Colleen Palmer, ESQ
Date Recorded: 14 March 2019

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Overview

You’ve just signed a contract to start a project.  Are you prepared to respond when the client wants to include others in the contract for professional services?  When requested, are you aware of the risks associated with transferring copyright, as compared to ownership of a work product?  Could an unfavorable contract indemnity clause create a catastrophic financial risk to your business and livelihood?    Do you recognize how to strengthen your standard of care contract language and indemnity?  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 ongoing webinar discussion series 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 will continue discussion of 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 contract assignment and how it is impacted by many factors, including contract specific language.
  • Identify key components of document ownership and copyright principles as they relate to your business practice.
  • Examine necessary information regarding insurance claim time limits. It pays to know and understand the applicable limitations periods.
  • Review concepts of indemnity, standard of care and the role they play in contractual agreements.

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