205
(Updated 2017) Purchase Options

This is the most popular prime construction contract agreement. This standard construction contract between the Owner of the construction project and the Constructor (aka builder, general contractor, design-bid-builder, construction manager) conveniently integrates the general terms and conditions and the construction agreement terms into one document. This short form agreement can be used for smaller or bigger projects because it covers the essential terms and conditions needed in prime construction contracts. This agreement is for a design-bid-build project with a fixed lump sum price, this contract document works well for construction projects that are competitive bid as well as negotiated lump sum contracts. The general conditions include the responsibilities allocated to each party and address critical construction law contract issues. The contract issues include: the parties relationship and responsibilities to each other, definitions of key terms, scope of work and execution obligations, design delegation, worksite conditions, differing site conditions, contract price, contract documents, contracts review, submittals, subcontracts, permits and taxes, time, changes, schedule changes, payment, payment schedule, final completion and final payment, indemnification (defend and hold harmless against all losses), insurance and bond, termination for convenience, termination for cause, claims and notice, waiver of consequential damages, dispute resolution and mitigation, construction defects, choice of law, venue, and much more. The included contract issues are fair for Owners of the project as well as Constructors. Parties can modify the terms of the agreement for their individual project needs and state law requirements. This document presumes that the Owner will be hiring a Design Professional(architect or engineer) to provide design services. The ConsensusDocs 240 (long) or 245 (short) agreement covers that Designer-Owner relationship. The Owner is included in project communications and maintains decision making unless the Owner delegates responsibilities to the Design Professional.

Purchase Options

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