WASHINGTON – July 28, 2015 – (RealEstateRama) — Today, the ConsensusDocs Coalition is publishing a new Construction Management Agency standard agreement, the ConsensusDocs 840 Agreement Between Owner and Design Professional (Owner Hires or Acts as Its Own Construction Manager).
The new agreement provides a fair and balanced agreement for owners to contract with an architect or engineer, who serves as the designer. The design services agreement is intended for when the owners acts as its own construction manager, hires a construction manager, or is using multiple prime contractors. Rather than use a contract form that favors the owner or design professional, this document was created with broad industry input and endorsement to create a fair contract for all parties involved. The agreement was written to be used in conjunction with the previously-released 830, 831 and 850 construction management agreements.
“The new agreement provides a fair and balanced contractual foundation to assist Owners and Design Professionals in a construction management relationship”, states Melissa Beutler, Vice-Chair of the ConsensusDocs Drafting Council. “Other standard CM Agency contracts, do a poor job of delineating fees, costs and profit, which inevitably leads to payment issues.”
ConsensusDocs are the only contracts written by a coalition of 40+ design and construction industry associations. ConsensusDocs remains committed to its project-first philosophy by providing contracts that are written in plain English, incorporate best practices, and address emerging trends.
Simply put… ConsensusDocs help you build a better way!
For more information and to order your subscription today, visit www.ConsensusDocs.org.
Contact: Carrie Ciliberto