American Subcontractors Association Michigan
December 2010 General Membership Meeting
Nearly 30 were in attendance at the ASAM General Membership meeting on December 8 to hear guest speakers Steve Stawski of Smith Haughey and Jon Lunderberg of Buiten & Associates, LLC. Their topic was “Contracts & Insurance: Know Your Responsibilities, Your Rights and Your Risks.”
Stawski’s portion of the meeting included definitions of terms used in the industry: Consequential Damages, Indemnification, Merger/Integration, Incorporation by Reference, Condition Precedent, Liquidated Damages, and Certificate of Insurance.
Lunderberg recommended using agents, explaining, “We go through these insurance requirements every day. The devil’s in the details and you’ve got to do it before you take the job.”