ASALLC Red Flag Provisions Spotting & Contract Termination Loop Discussion –
For this discussion we will focus on important contractual clauses that you should be able to easily spot and consider.RED Flag Provisions for construction.
RED FLAG PROVISIONS (RFP)
What are these? RFPs are provisions in a contract that should alert a party to a contract of a provision that is important enough to take note of before you sign (execute) a contract. They are provisions that should be negotiated to be fair to both parties. These provisions contain language that may affect you later on. It is mostly the consequences of entering into a contract that contains RFP that make you realize later on you should not have executed the contract, or you should have negotiated the RFP beforehand. We will learn about some of them by name and you should write down what they are, with a simple definition. If a provision contains language that cannot be negotiated or modified due to the refusal by the other party, this is a red flag that perhaps you do not want to enter into the contract. There are more than 7, but this should get you started and organized.
The book is attached Red Flag Provision should be on Chapter 22
For this assignment
For this discussion please write three paragraphs on how you spot these red flag provisions and how you believe that they will influence you in the future, given your major in Construction.