#12: James Rudnicki, Attorney to Builders on Contracts, Warranties, and Lien Waivers

James Rudnicki is a Texas attorney specializing in home building. He actually *wrote* the contracts for the Texas Association of Builders. Bottom line…he knows his stuff, probably as well as anyone. And when it comes to risk management, we can always learn a little more. Enjoy this conversation as we explore contracts, warranty liability, and lien waivers. You will learn a lot, but please don’t do anything without consulting your own attorney. Show Notes: [2:10] – Cost Plus vs. Fixed Price contracts…What James prefers. [5:50] – The importance of a Builder’s Services Agreement. [6:50] – Protecting yourself against price increases in Fixed Price contracts. [11:45] – Protecting against client onset delays. [15:45] – Pricing change orders. [16:10] – On the necessity of signing change orders up front. [19:50] – Fixed schedule milestone draws vs. periodic progress draws. [21:10] – The ins and outs of retainage and why you should avoid it. [27:00] – On managing warranty liability. [28:15] – On third party warranties. [30:40] – The warranty standards you need to follow. [34:25] – The low-down on lien waivers. Selected Links: Bush Rudnicki Shelton