Paint and Coatings Industry Webinars
This webinar is archived and recorded from a live presentation on Thursday, May 19, 2022.
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Contract Horror Stories is part of the CPIA Webinar Series.
Is there anything scarier than not understanding your contracts and what you are signing? The truth of the matter is, whatever you sign in a subcontract will be used against you, and signing one bad contract can put you out of business. One of the most common details contractors miss is not looking at the subcontract's additional documents, but this is just one of the many things you need to look out for. Learn everything you need to look out for in a contract before signing anything.
Attorney and best-selling author, Karalynn Cromeens, will teach you what you need to be aware of in your contracts. In this presentation, you will find examples of what different problem-area clauses look like, learn how to negotiate your contracts and the clauses within them, and walk away better understanding what you can eliminate from those clauses to protect yourself and your business.
You will also learn the dangers of termination for convenience as well as certain payment terms. In addition to teaching, Karalynn will do a little storytelling on horror stories from contractors’ past. Don’t end up like these contractors; your business depends on your knowledge of these important topics and how to be preventive and protect yourself against the dangers of signing a contract that you don’t fully understand.
By the end of this webinar, attendees will learn:
• What to be aware of in their contacts;
• What different clauses look like and what to be wary of;
• What can be eliminated from dangerous clauses to protect themselves and their business;
• How to negotiate these types of clauses; and
• The dangers of termination for convenience and certain payment terms.
Please download the handout below for the presentation:
Karalynn Cromeens, Owner & Managing Partner
The Cromeens Law Firm and The Subcontractor Institute
Published author, award-winning lawyer, devoted wife and mother to three girls, and Owner and seasoned Managing Partner of The Cromeens Law Firm (TCLF), Karalynn Cromeens is a true jack of all trades. She is the Co-Founder of Morrell Masonry Supply and Owner of The Subcontractor Institute, an easy-access online educational platform for contractors. In addition to TCLF, and The Subcontractor Institute, Cromeens is also the Host of the educational construction podcast, Quit Getting Screwed, where she makes cost-free industry insights available to contractors across the country.
In 2021, Karalynn published two Amazon best-selling books: Quit Getting Screwed: Understanding and Negotiating the Subcontract and Quit Getting Stiffed: A Texas Contractor’s Guide to Liens & Collections.
In the 17 years she has practiced construction, real estate and business law, Cromeens has reviewed and explained thousands of subcontracts. For years, she has tried saving companies that have signed problematic subcontracts and lost out on being paid for their work. Unfortunately, it was too late by the time they came to her; she could do nothing to help. She hated seeing clients lose money—sometimes their entire business—over language they did not understand and laws they did not know about. Watching these situations play out day after day was the driving force behind her two books, The Subcontractor Institute and the firm’s accessibility efforts.
Providing education to contractors on a national level has become Cromeens' personal mission and she is always doing what she can to help make it a reality.