Contracts 101

RELEASE DATE: APRIL 7, 2025
ANTICIPATED DURATION: 60 MINUTES

The Contracts 101 course is not your basic introduction to contracts.  Instead, we’re going to discuss key contractual provisions that should appear in nearly all service provider contracts, such as language that can be used to ensure that vendors:

• Comply with state and federal law;
• Have and maintain any required licenses;
• Have and maintain appropriate insurance; and
• Detect, prevent, and mitigate the risk of identity theft. 

Beyond this, we’ll also discuss other key contractual elements, such as:

• Language that will preserve your right to dispute invoices;
• Business continuity and disaster recovery clauses;
• Language that should be included in contracts for mortgage loan origination services;
• Issues regarding taxation;
• Complying with due diligence requirements;
• What you need to know about warranty disclaimers; and
• How to avoid pitfalls when price increases are tied to the Consumer Price Index (CPI).

Finally, we’ll cover what you should know about the following important topics:

• Attorney’s Fees provisions;
• Arbitration;
• Force majeure clauses; and
• Governing law and venue.

SUBJECT MATTER EXPERT

As Managing Partner of Okun Loritz LLP, attorney Dan Loritz assists the firm’s clients with bond/insurance claims, business and consumer deposit and lending documentation, contract review and negotiation, regulatory compliance, employment law and personnel issues, and privacy matters. Dan is a frequent speaker at credit union industry events concerning legal and compliance topics and is the author of numerous publications. Prior to practicing law, Dan worked as a personal banking officer at a major California bank. He is a member of the State Bar of California and the Financial Institutions Committee of the State Bar of California.

LEARNING METHOD This training is available as an on-demand webinar, organized into chapters. Learners can choose to watch individual chapters or complete the entire program. Unlimited testing is provided as the last chapter. 

EXPIRY NOTE eTrain reserves the right to expire program links that may include information no longer valid such as regulation and rule changes. In most cases, we will expire a program no more than 4 weeks prior to an updated version being released. Expired programs will still appear in your My Account details area with EXPIRED and the year of the release in the title field. However, you will not be able to view the training or access the handouts.