And Dispute Resolution Board Foundation Becomes 40th Endorsing Organization of the ConsensusDocs Coalition
WASHINGTON, D.C. – August 30, 2013 – (RealEstateRama) — ConsensusDocs released two new industry first standard construction contract documents today to help implement the selection and implementation of dispute review boards (DRBs). DRBs have a proven track record of resolving claims and keeping construction projects out of litigation. The ConsensusDocs 200.4 DRB Addendum provides for the establishment and operations of DRB panels to keep projects on track toward completion instead of the court system. The 200.5 DRB Tri-Party Agreement provides a standard agreement for Owners and Constructors to contract with DRB panelists and establishes DRB panelists’ qualifications, ethical requirements, and payment provisions.
“The new documents are important industry-first standard construction documents that will help facilitate the implementation of the dispute review boards which have a proven track record of avoiding disputes and claims which far too often hamper the efficiency of the design and construction industry,” commented Kurt Dettman, Director of Training and Region 1 Board Member of the Dispute Resolution Board Foundation (DRBF).
“The DRBF is very pleased that the ConsensusDocs coalition actively listened and worked with the DRBF in creating an industry standard contract document for Dispute Review Boards,” commented Deborah Mastin, President of Region 1 Board of Directors of the DRBF. “This is confirmation that DRBs are a widely accepted industry best practice in the United States and Canada when setting up dispute avoidance and resolution mechanisms on construction projects.”
ConsensusDocs are the only standard construction contracts written and endorsed by 40 leading design and construction industry associations, and the only standard contracts that list DRBs as an explicit dispute mitigation option for the parties to consider when structuring their contracts. The DRBF joins a the diverse coalition of leading construction associations that are actively pursuing the advancement of the industry to draft fair, balanced contracts that get better project results for Owners, Constructors and Design Professionals alike. In less than six years of existence, ConsensusDocs has doubled from an unprecedented coalition of 20 groups to a broad spectrum of 40 industry organizations that represent design professionals, owners, constructors, and surety groups (DOCS). For more information, visit www.ConsensusDocs.org.
Contact: Carrie Ciliberto