2006
Activities and Events
| AAAEA 2006 Dinner Seminar | |||
| Date: | Thursday, October 26, 2006 | ||
| Time: | 5:30 p.m. Social 6:00 p.m. Dinner 7:00 p.m. Presentation |
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| Location: | University of Illinois
at Chicago (UIC) ERF Engineering Research Facilities 842 West Taylor Room # 1047, Chicago, IL |
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| Cost: | $15 / $5 Students
RSVP before October 24, 2006 $20.00 – at door or RSVP after October 24, 2006 |
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| Presentations: | "Risk Allocation
in Construction Projects " By Bashar Fayez Haddad, Faculty MCT Department, College of Technology, Indiana State University Exculpatory clauses are often used in construction contracts to shift potential risks of construction from one party to another. Traditionally, it is the owner who seeks to shift a particular construction risk to the other parties (designer or contractor). Exculpatory clauses are often found in the instructions to bidders and in the terms and conditions which form the agreement between the owner and contractor. Hartman (1998) suggests that Canadian contractors use a risk premium between 9% and 19% as part of their contingency plan to alleviate the risks associated with accepting exculpatory clauses. The presentation will highlight the results of a research study conducted on U.S. contractors to identify and quantify the risk premiums they use to mitigate the risk associated with accepting five exculpatory clauses. These clauses allocate risk for: design errors, differing site conditions, construction errors, risks of payments, no damage for delays. The study also examined the correlation among the contractor's years of experience, company size and percent of self completed work and the contractor's risk premium for each identified risk. |
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| To Register: | Call: (708) 236-0900
Email: moussa.issa@hbmengineering.com |
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1 PDH will be awarded!
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