The first ConsensusDocs agreement that focuses on construction work services that take place after substantial completion
Washington, D.C. – (RealEstateRama) — Today, ConsensusDocs is announcing the release of a new industry standard agreement for operations and maintenance. The ConsensusDocs 910 Standard Operations and Maintenance (O&M) Agreement is the first agreement that ConsensusDocs has published that focuses on construction work services that take place after substantial completion. The agreement provides an off-the-shelf contractual solution for an Owner seeking to procure standalone O&M services. A unique feature of this agreement is that it allows for a flexible one-to-five-year agreement period for which bonds may be provided to meet the challenges of a project with an extended period of performance. The terms and conditions are based on the fair and best practice terms published by ConsensusDocs, which were recently updated in December 2016.
ConsensusDocs organizes its 100+ industry standard contracts in numeric series based upon project delivery method. This agreement is the first in a new series, the Public-Private-Partnership (P3) 900-series, which is increasing in use and importance in the construction industry.
“The 910 fills an important role in many projects,” comments Ernest Brown, CEO of Ernest Brown & Company, who chaired the ConsensusDocs working group that produced the O&M agreement. “It can be easily adapted for use for Design/Build/Operate (DBOT), Design-Build Plus (O&M), and Public Private Partnership (P3). It encompasses third-party services provided for a contractor’s warehouses, buildings, and heavy equipment.”
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 " target="_blank">.
Contact: Amy Hager