FOR IMMEDIATE RELEASE
Washington, D.C. –ConsensusDocs, a coalition of 40 design and construction industry associations, announced today that it is publishing completely updated design-build and Construction Management at-risk standard documents. Coalition officials noted that the new documents have been reworked to address changes in current business practices since the last time the forms were crafted.
Design-build and construction management at-risk are project delivery methods that continue to grow in importance and market share in today’s construction industry, coalition officials noted. Because these now well established methods, in addition to integrated project delivery (IPD), disrupt the traditional project delivery process, usage of the ConsensusDocs standard construction contracts is highest in these alternative project delivery methods, they added.
The updated contracts address industry changes impacting insurance, legal, technology, and terminology. The new ConsensusDocs design-build and Construction Management at-risk contracts offer clear and concise legal writing; direct party communications with active owner input; and procedures to mitigate claims and disputes.
The coalition also released a new video to help illustrate the benefits of fair standard contracts. In addition, ConsensusDocs is co-presenting a webinar with the American Bar Association Forum on construction on March 28th to highlight the 2017 changes, entitled, Leverage New Standard Contracts in 2017: How to Keep You and Your Clients’ Interests Ahead of the Curve.
The updated documents being released today are:
- ConsensusDocs 410 Owner & Design-Builder Agreement (Cost of Work Plus Fee with GMP)
- ConsensusDocs 415 Owner & Design-Builder Agreement (Lump Sum)
- ConsensusDocs 420 Design-Builder & Design Professional Agreement
- ConsensusDocs 450 Design-Builder & Subcontractor Agreement
- ConsensusDocs 460 Design-Builder & Subcontract Agreement (Cost Plus with GMP)
- ConsensusDocs 500 Owner & Construction Manager Agreement (GMP with Preconstruction Services Option)
ConsensusDocs are the only contracts written by 40 leading design and construction industry organizations. For more information, please visit www.ConsensusDocs.org, call 866-925-Docs (3627) or email support@ConsensusDocs.org.
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