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How to Terminate a Failing Subcontractor

$105.00
Member price: $85.00

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The decision to terminate a subcontractor is never made lightly, and there is often significant operational and financial impacts involved.

Depending on why the subcontractor is in the process of default, it is possible to take actions that avoid termination and allow for completion of the work. But in some situations, for either performance or customer relationship reasons, finishing the scope of work with that subcontractor is not possible. If that’s the case, 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 course will add techniques to your repertoire as you choose your own adventure through the various scenarios a subcontractor default can take.

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.

Level & Prerequisites
This program is a Basic level online self-study course that was developed for professionals with 0-3 years of experience in construction finance. No prerequisites or advanced preparation is required.

CPE Information
Earn 1.0 CPE credit in the field of Business Management & Organization upon successfully completing this course and achieving at least 70% on the final exam.

CCIFP Information
Earn 1.0 CCIFP Professional Development credit which can be applied toward the General or Construction Knowledge requirement.

CPE Note
Please note: this on-demand course was reformatted from a session from CFMA’s 2024 Annual Conference. Learners are only authorized to claim CPEs for this course once.

Course Length

The estimated time to complete the course and final exam is approximately 50 minutes, depending on the pace of the learner.

Who Should Take This Course?

  • Business Owners
  • CFOs
  • Construction Financial Professionals
  • Contractors
  • Controllers
  • CPAs
  • Professional Advisors
  • Risk Managers
  • Subcontractors

Contributing Developer

CFMA Colleague Discount

If you are a CFMA member and would like to enroll someone at your company in this course who is not a CFMA member, please contact CFMA at education@cfma.org for more information.

CFMA Group Discount

If you are interested in registering a group of individuals at your company, please contact CFMA at education@cfma.org for more information.