For contactors and anyone involved in procurement and contracting within a construction company. Gain a basic and practical understanding of Canadian construction contract and subcontract essentials. - Understand what a contract is from a legal standpoint and what makes it valid and enforceable. - Know some key legal principles regarding general contracts and construction contracts. - Understand why contracts are important in the construction process. - Learn the difference between a “bidding” contract and the actual construction contract. - Be able to discern the difference between a letter of intent, a purchase order, and a construction contract. - Learn about a major cause of construction disputes and why standard industry contract forms can reduce the risk of such disputes. - Know the different types of construction contracts in terms of project delivery and pricing methods. - Understand the structure, approach, and key provisions in a typical stipulated/fixed-price or lump-sum construction contract and subcontract. - Know how to read and understand a typical construction contract and subcontract.