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(Updated 2017) Purchase Options

The Owner, Design Professional, and Constructor (aka builder, general contractor, design-builder, construction manager) all sign the same agreement, making this an integrated form of agreement (IFOA). This agreement incorporates Lean principles such as pull planning, pull scheduling, A-3 thinking, target cost, estimated maximum cost, target value design (TVD), TVD clusters, target value clusters, and a risk pool plan (to share risks and rewards). A core team at both the project management and project development levels is created to make consensus-based project decisions to increase project efficiency and results. Each project participant signs a joining agreement, which can be accomplished with the ConsensusDocs 396. Parties are classified into two categories: Risk Pool and Joining Members. Risk Pool members are at a higher risk and reward level than Joining Members.   The general conditions of this construction contract document 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, what the agreement is to be, IPD method and Lean construction principles, collaborative project management, validation phase, preconstruction phase, Design Professionals, Constructor’s compensation, costs, risk allocation and pool, price estimates, contract time, changes, payment, termination, dispute resolution and mitigation, and much more. Parties can modify the terms of the agreement for their individual project needs and state law requirements.

Purchase Options

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