ConsensusDOCS — The New United Voice for Construction Contracts
What if owners, contractors, subcontractors, designers, and sureties could all agree that a standard contract was fair to all parties? For the first time in the industry, 21 leading construction associations, are uniting to publish a consensus set of contract documents called ConsensusDOCS. To be released September 28, 2007, AGC and COAA are essentially folding their contract documents program into this consensus process.
Why ConsensusDOCS?
Currently there are a variety of construction associations that produce standard form construction contracts. However, standard contracts published by one association are perceived as ultimately favoring that association's membership. There is also a growing industry frustration that heavily modified standard form documents hardly resemble the original text. Sometimes "modifications" are actually longer than the unrecognizable standard form.
ConsensusDOCS is the new choice in contract documents, because all the parties were invited to the drafting table and had a full vote in deciding final contract terms. All parties in a construction project deserve to work under a fair contract-one that they have confidence in because each of their respective associations had a true seat at the drafting table. The ConsensusDOCS drafting process is similar to negotiations for a specific project contract. The drafting mantra was to represent the best interests of the project, rather than a singular party. At all times, the contracts employ best practices and fair risk allocation for all of the parties. Consequently, these contracts focus on yielding better project results and fewer disputes. This unprecedented effort is the most significant industry development in the last 20 years. The diverse buy-in amongst all parties will literally transform the industry.