Leveraging the New ConsensusDocs Construction Contracts
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Learn about significant changes and strategize how you can leverage the new editions of ConsensusDocs standard documents.Standard design and construction contracts set the playbook for project success or failure. Case law, technology, and insurance have changed dramatically over the past 10 years. ConsensusDocs, a coalition of 40 leading construction organizations that include leading organizations like AGC, ABC, and COAA, published comprehensive updates to its most used prime and subcontract agreement. Changes to ConsensusDocs address payment, insurance (builder's risk policy), terminations, indemnification, mediation, and arbitration, attorney's fees, and much more. You will learn from the lead staff person, the highlights of the most significant changes and strategize how you can leverage in contract negotiations in using the new editions of ConsensusDocs standard documents for design-bid-build, design-build and CM At-Risk. You will also learn how to incorporate certain provisions in modifying American Institute of Architects (AIA) A201 or manuscripted original contracts. This information will cover the ConsensusDocs general terms and conditions used in the ConsensusDocs 200, 205, 410, 415, 500 as well as properly subcontract flow down provisions in the 750 and 751 subcontracts.
AuthorsBrian M. Perlberg, Esq., The Associated General Contractors (AGC) of America, Inc.
Why Construction Contracts Matter and How Projects Fail When You Do Not Write Your Contracts for Success
Changes and Notice Provisions
Termination for Convenience
Automatic Conversion Clauses of Termination for Cause
Prevailing Party Provisions
Incentives Clauses and How to Negotiate Them in Relation to Liquidated Damages
Indemnification, What Should Be Covered by Insurance, and How to Address Intentional Wrongful Acts or Omissions
Bond Penal Sums
Limiting a Builder's Design Liability by Avoiding Fiduciary Duty Terms and More