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New JV, Geotech and D/B Contracts Provide Solutions for Host of Construction Needs
FOR IMMEDIATE RELEASE Contact: Carrie Ciliberto, 703-837-5367
June 6, 2012 cciliberto@ConsensusDocs.org
Washington, D.C. – ConsensusDocs is releasing three new standard contract documents today to meet the needs of an evolving construction industry. Firms working on joint ventures, geotechnical consulting, or prequalifying a design-builder will now have ready to use forms that simplify getting contracts signed and work performed.
The new and only available of its kind, joint venture document, the ConsensusDocs 298 Joint Venture Agreement, makes it easier for multiple construction companies to combine efforts, increase capacity, combine expertise and share risks on specific projects. “In today’s market, we’re seeing an increase in joint ventures between general contractors, and the new joint venture document provides a solid contractual foundation for all involved parties,” states Kory D. George, Partner at Woods & Aitken LLP and Chair of the Joint venture working group.
The new Owner and Geotechnical Consultant agreement, ConsensusDocs 246, meanwhile, provides a balanced standard agreement for Geotechnical Consultant’s services to determine underground site conditions. Differing site conditions potentially lead to litigation, and therefore are a critical element for a construction project’s risk profile.
“With seemingly ever-increasing environmental regulation, the geotech agreement fills a need in the industry to protect owners and consultants alike in helping ensure both parties understand their roles and responsibilities,” states, Phil Beck, Partner at Smith Currie & Hancock LLP, and Chair of the Geotech agreement working group.
The updated ConsensusDocs 421 design-build prequalification form is part of a coordinated series of contract documents the coalition has crafted focusing exclusively on design-build projects. The prequalification form helps owners choose the best qualified design-build contractors at the best prices.
The newly published documents further the coalition’s goal of writing fairer contracts to deliver better project results with less litigation. The documents take a project-first approach and provide owners an active role in the construction process. Written in a simpler, more understandable style, the documents promote collaboration, communication, and integration.
ConsensusDocs are the only standard contracts written and endorsed by 36 leading design and construction industry associations. For more information, visit www.ConsensusDocs.org.