You Never Give Me Your Money: Navigating Conditional Payment Terms on Bonded Projects-You Never Give Me Your Money_ Navigating Conditional Payment Terms on Bonded Projects Webinar

You Never Give Me Your Money_ Navigating Conditional Payment Terms on Bonded Projects Webinar

Video Transcription

Video Summary

The video is a webinar presentation titled "You Never Give Me Your Money: Navigating Conditional Payment Terms on Bonded Projects". The webinar is part of PCI's webinar series and is in partnership with Navco Precast and Hudson Lambert Parrott Walker. The presentation is moderated by Royce Covington, the Manager of Member Services at PCI. The presenters are Brian Roberts, CFO of NAPCO Precast, and Anthony Lehman, a Construction Lawyer. <br /><br />The presentation focuses on navigating conditional payment terms on bonded projects, specifically pay when paid and pay if paid clauses. The presenters discuss the difference between these clauses, their enforceability, their effects on payment bond claims, and their possible effects on lien claims. They also provide advice on negotiating these clauses and managing risk in contracts. The presenters emphasize the importance of conducting due diligence on the owner's creditworthiness, obtaining necessary project information, and involving legal counsel in contract negotiations. They also suggest revising contract clauses to ensure payment conditions are fair and that both parties are protected.<br /><br />The video concludes with a Q&A session where attendees can ask questions related to the presentation. The presenters provide answers and offer additional insights. Overall, the webinar provides valuable information for contractors and subcontractors dealing with conditional payment terms on bonded projects.

Keywords

webinar

conditional payment terms

bonded projects

pay when paid

pay if paid

enforceability

payment bond claims

lien claims

contract negotiations