Three things you probably already know about ConsensusDocs
Three things you probably already know about ConsensusDocs:
ConsensusDocs publishes a comprehensive catalog of 100+ documents that cover all your construction contract document needs.
ConsensusDocs are the only standard contracts developed by a diverse coalition of more than 40 leading associations (including NECA!) with members from all stakeholders in the design and the construction industry.
ConsensusDocs contracts incorporate best practices and fairly allocate risk to help reduce costly contingencies and adversarial negotiations.
Here are three new things recently announced by ConsensusDocs::
In an ongoing effort to improve the industry, the ConsensusDocs Coalition has released all its bond forms as part of a free package.
A new agreement for testing hazardous waste (ConsensusDocs 749) is now available.
The Coalition has also released a new owner and design professional agreement (ConsensusDocs 840) for use when the owner hires or acts as its own construction manager.
FREE BOND FORMS
ConsensusDocs publishes performance, payment, and bid bond forms. These forms offer more specific choices including subcontractor performance and payment bonds, design-build bonds (the only bond forms specific to design-build that provide an option to cover design liability), and warranty bonds. Now, they’re all available for free to the design and construction community.
“The importance of bond forms is often overlooked. Fair and balanced bonds can facilitate maximum competition, limit contingencies, and help ensure project viability,” states Joanne Brooks, Vice President & Counsel at The Surety & Fidelity Association of America (SFAA), a member of the ConsensusDocs Coalition. “Providing complimentary access to the ConsensusDocs industry-standard bond forms will help all project participants.”
“Fair bond forms, like those issued by ConsensusDocs, are necessary ingredients in achieving a balanced apportionment of construction risks,” states Mark McCallum, CEO of the National Association of Surety Bond Producers (NASBP). “Bond forms containing onerous terms subvert the ability of project owners to realize maximum competition for contracts, even precluding small and disadvantaged firms from the ability to seek contract awards. NASBP applauds the decision to make ConsensusDocs bond forms available at no charge, aptly demonstrating ConsensusDocs’ adherence to its mission to improve the industry through dissemination of fair standardized forms.”
– See more at: http://www.necanet.org/news/news-release-archive/news/2015/08/03/consensusdocs-offers-free-bond-forms-new-contracts-neca-member-discounts#sthash.cHrgtg9r.dpuf