10/5/2017

ConsensusDocs Publishes New Standard Prime Agreement

The ConsensusDocs 230 includes general conditions where payment is based upon the cost of the work with GMP

October 5, 2017

Contact: Amy Hager
ahager@consensusdocs.org
703.837.5367

 

Washington, D.C. –Today, ConsensusDocs is publishing a new standard prime agreement for construction owners and constructors providing a best practice industry standard contract with integrated general conditions where the payment is based upon the cost of the work and includes a guaranteed maximum price (GMP). Unlike the ConsensusDocs 500 CM At-Risk agreement that contemplates preconstruction services and a GMP amendment once the design is sufficiently complete, this agreement, ConsensusDocs 230, contemplates a GMP upon contract signing.

“The general terms and conditions integrated into this agreement are based upon the fair and best practice contractual terms that we recently updated in our most used contracts for design-bid-build in December of 2016. As ConsensusDocs has just reached its 10-year milestone with a track record of success, release of the 230 is just another example of how those in the industry using ConsensusDocs are better positioned to be ahead of the curve,” states Brian Perlberg, ConsensusDocs Executive Director.

The ConsensusDocs 230 joins the over 100 standard contract documents already offered and will be included in the owner’s and unlimited subscription packages delivered by the ConsensusDocs technology platform that is Microsoft Word®-compatible. For the last ten years, ConsensusDocs has been the only standard contracts written by a 40 + coalition of leading design and construction associations representing owners, contractors, subcontractors, sureties, and design professionals.

###

 

ConsensusDocs are the only contracts written by leading design and construction industry organizations. With a catalog of 100+ contract documents addressing all methods of project delivery, ConsensusDocs contracts incorporate fair risk allocation and best practices to represent the project’s best interests. Coalition organizations represent hundreds of thousands of design professionals, owners, contractors, subcontractors and sureties (DOCS). For more information, please visit www.ConsensusDocs.org, call 866-925-DOCS (3627) or email support@ConsensusDocs.org.