HK$1,500 – HK$1,750

Construction: Contractual Commercial Awareness [OCT 2020]

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Location

RICS Hong Kong Office

Room 3707-09

Hopewell Centre, 183 Queen's Road East

Wanchai, HKI

Hong Kong

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Event description
This course will provide you with the knowledge required to establish or defend an entitlement in a contract.

About this Event

CPD: 6 formal hours

Language: English

Overview

As a foundation for projects to be managed and executed by, the purpose of a contract is to provide a mutually agreed commercial relationship for all the stakeholders involved. Contracts are also critical in protecting parties against risks which result in delays, expenses and liabilities. However, they are often neglected within the construction project itself. As a result, the mechanism in which parties must adhere to becomes impaired. From procurement to formation, design, works and final account, this course explores the rudiments of commercial awareness in construction contracts and provide delegates with the necessary acumen and confidence to negotiate commercially viable contracts and ultimately manage risk for any construction project.

Learn from an experienced construction professional practicing in commercial management, who will deliver practical advice aimed to prevent contracting parties from falling out.

This course will provide you with the knowledge required to establish or defend an entitlement in a contract. The notes and materials included will also provide an excellent reference point when engaged in contract negotiation after the course.

Course Content

  • Establish formation of the Contract to Offer Consideration and Acceptance
  • Recognise the common pitfalls in contract formation
  • Identify appropriate subcontracts and other inherent relationships with third parties
  • Distinguish between the differing ways of procuring the works and how the Risk Profiles differ
  • Characterise the many varied forms of contracts available and the effect of bespoke amendments upon them
  • Consider design transfer, its impact and illustrate what design means
  • Assess the contract mechanisms and embedded pitfalls
  • Critique the effectiveness of Liquidated Damages
  • Explore the mechanisms relating to extension of time, programme and delays
  • Investigate the procedures for variation and loss and expense
  • Contrast between the dispute procedures available to the stakeholders

Learning Objectives

After this programme, you will be able to:

  • Recognise the vital ingredients in contract formation
  • Establish the stakeholders and third party relationships in construction projects
  • Analyse the commitments made by the contracting parties, especially in respect of design
  • Identify the typical entitlements and defences to claims for additional time, money and Liquidated Damages
  • Determine the compliant payment mechanisms

Trainer

Dr. KEUNG, Calvin FRICS

BSc, MSc, PhD, MHKIS, RPS(QS), MbSHK

Dr. Calvin Keung is a chartered surveyor by profession and he practiced in an international QS firm before joining the City University of Hong Kong in 2006. Dr. Keung has published research articles in topics of construction project networking and BIM applications. He is also the author of a number of construction textbooks in Hong Kong. His overall research goal is to improve construction efficiency and cooperation through BIM deployment and promote collaborative project network to enhance BIM management.

In addition, Dr. Keung focuses on professional education and student career development. He got several teaching grants for education research and he is active in organizing events to foster linkage between academia and the construction industry. Currently, Dr. Keung is Departmental BIM Coordinator and BIM Coordinator of the IBPD course.

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Date and Time

Location

RICS Hong Kong Office

Room 3707-09

Hopewell Centre, 183 Queen's Road East

Wanchai, HKI

Hong Kong

View Map

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