CFMA’s technology upgrades are live! As you explore the new education and certification experiences, visit cfma.org/faq to help answer questions you may have! Thank you in advance for your patience as we squash any bugs in the new platforms.
More Info
How to Terminate a Failing Subcontractor
$79.00
Member price: $55.00
Purchasing on behalf of another customer?
If you are interested in purchasing a product on someone's behalf or need to place a bulk order, please contact CFMA Education at education@cfma.org or call 609-452-8000, press 3 for Education.
The decision to terminate a subcontractor is never made lightly. There is often significant operational and financial impact involved. Depending on why the subcontractor is in the process of default, it is possible to take actions that avoid termination and allow for the completion of the work. In some situations, finishing the scope of work with that subcontractor is not possible, for either performance or customer relationship reasons. Then you must turn your focus toward how to take decisive action to keep your project on track, facilitate the takeover and completion of that scope of work, and mitigate the almost inevitable unfavorable financial consequences that are about to occur. This session will add techniques to your repertoire as you “Choose Your Own Adventure” through the various scenarios a subcontractor default can take.
Learning Objectives
After this course, you will be able to:
• Identify early signs of potential subcontractor defaults.
• Recognize the options available to you prior to declaring a default.
• Determine when the proper course of action is to formally declare a default.
• Compare and contrast the various options for financial recovery after a default has been declared.
• Identify pitfalls to avoid along the way.
Prerequisites
This program is a Basic level online self-study course developed for professionals with 0-3 years of experience in construction finance. No prerequisites or advanced preparation is required.
CPE/CCIFP Information
Course Length
The estimated time to complete the course is approximately 50 minutes, depending on the pace of the learner.
Who Should Attend:
• Business Owners
• CFOs
• Construction Financial Professionals
• Contractors
• Controllers
• CPAs
• Professional Advisors
• Risk Managers
• Subcontractors
Topics:
Risk Management
Specialty Contractors
Contracts
Residential Contractors
Management Services
Business Management & Organization
Cash Management
Construction Management
General Contractors