Thursday, May 25, 2017

Consensus Docs Form Contracts Updated

Design-Build and Construction Management At-Risk Standard Documents Revised

Form contracts are used throughout the construction industry. These standard contract forms provide predictability and consistency in the construction industry. While standard construction contract forms are meant to be modified to fit the specific project and terms for which they are used, most of the standard terms are generally left untouched during negotiations. The most popular, and oldest, of these standard construction contract forms is the American Institute of Architects AIA forms. However, building criticism that the AIA forms favor owners and architects lead to the formation of the ConsesusDocs, which were a result of the work of contractor and subcontractor organizations.

The ConsensusDocs, drafted and reviewed under the supervision of about 40 construction associations - mostly general and subcontractor associations - have spent significant time observing new methods and technology involved in design-build, as well as pitfalls and holes in construction management at-risk projects. Taking the information gathered, as well as feedback from the various associations, ConsensusDocs revised its design-build and construction management at-risk standard documents. These new documents attempt to provide revisions that take into account the concerns of owners, contractors, designers, and subcontractors.

The updated ConsensusDocs 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)

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