CONSTRUCTION
I have recently heard about new "ConsensusDOCS"
construction contract forms. How do they impact
subcontractors?
In September (2007), a broad-based group of prime
contractors, subcontractors, public and private owners,
sureties, and other industry organizations jointly released a
new family of model contract documents called ConsensusDOCS.
Twenty leading construction associations, including AGC, ABC,
ASA, Construction Owners Association of America (COAA),
Construction Users Round Tables (CURT), and National
Association of Surety Bond Producers (NASBP), participated
their development. The goal was to represent the best interest
of the project rather than an individual party, employ best
practices, and allocate risk fairly among all parties.
