More Info

Information about ConsensusDocs Documents 

News

ConsensusDocs Releases a New Joint Venture LLC Agreement

ConsensusDocs recently released a new ConsensusDocs 299, Joint Venture LLC Agreement, which provides the first industry standard contract for joint ventures of contractors, contract managers, design builders and design professionals utilizing an LLC model. The agreement is flexible to accommodate joint ventures between contractors, construction managers and design builders, as well as those incorporating an architect, engineer or other design professional.

Joint venture arrangements have long been an important tool in construction industry procurement. The new joint venture LLC agreement makes it easier for multiple parties to combine efforts, pool and increase capacity, combine expertise and resources, share risks on specific projects, and further the socio-economic goals of federal set-aside programs such as the SBA mentor-protégé program.

“In today’s market, we’re seeing an increase in joint ventures between general contractors, and the new joint venture document provides a solid contractual foundation for all involved parties,” said Kory D. George, partner at Woods & Aitken LLP and chair of the ConsensusDocs joint venture working group.

Firms working on joint ventures now have an additional standardized form that simplifies getting contracts signed and work performed. It can be used at the teaming or proposal development stage, as well as for project performance.

The newly-published agreement furthers the coalition’s goal of writing fairer contracts to deliver better project results with less litigation. Similar to all ConsensusDocs standard contract documents, this agreement takes a project-first approach and promotes collaboration, communication and integration. ConsensusDocs are the only contracts written by 38 leading design and construction industry organizations. Offering a catalog of 100+ contract documents addressing all methods of project delivery, ConsensusDocs incorporate fair risk allocation and best practices to represent the project’s best interests.

FREE Podcast from ConsensusDocs! Joint Venture Agreement Podcast Now Available

ConsensusDocs is pleased to provide a free podcast that addresses the ConsensusDocs 298, Joint Venture Agreement, and how Joint venture arrangements (JV’s) have long been an important tool in construction industry procurement. Among the reasons cited by contractors for use of a JV entity for bidding and performing work are:

  • Spreading risk among the JV participants;
  • Combining financial, physical and human resources in order to meet the challenges of certain projects;
  • Furthering the socio-economic goals of federal set-aside programs such as the SBA mentor-protégé program;
  • Providing newly-formed contractors an opportunity to gain project experience while minimizing default risks; and
  • Pooling of bonding capacities for larger bonded projects.

The ConsensusDocs 298, makes it easier for multiple construction companies to combine efforts, increase capacity, combine expertise and share risks on specific projects. It can be used at the teaming or proposal development stage, as well as for project performance.

“In today’s market, we’re seeing an increase in joint ventures between general contractors, and the new joint venture document provides a solid contractual foundation for all involved parties,” states Kory D. George, Partner at Woods & Aitken LLP and Chair of the Joint venture working group.

Please click here to download this free podcast. You may also be interested in listening to other podcasts about the joint venture process by clicking here.

News

ConsensusDocs Press Releases, such as the
 ConsensusDocs press release about the New Software Platform and other   

How ConsensusDocs can benefit surety professionals and their clients
Visit the revamped ConsensusDocs web site to access: 


Remember the NASBP Discount when you Purchase

NASBP members, affiliates, and associates can receive 20% off their purchases of ConsensusDocs forms if they insert the following Promotion code, NASBP400, when prompted during the purchase process from the ConsensusDocs site at http://www.consensusdocs.org


Past articles about NASBP participation in ConsensusDocs:


Full Sample Contract Requests
To request a full sample ConsensusDocs contract for your internal review purposes, please fill out the Sample Request form. Please note that any use of the contract, other than for your internal review purposes, must come from a valid subscription purchase at www.consensusdocs.org.

Copyright Licensing
If you are interested in using ConsensusDocs for educational or legal research purposes, you may apply for a free ConsensusDocs copyright license. Once your application is processed, you will receive a numbered copyright license letter and full watermarked samples of the requested documents. Licenses must be renewed on a yearly basis, and are contingent upon compliance with the terms of your license letter.

NASBP is an endorsing organization of the ConsensusDocs coalition, an unprecedented effort by 40 industry organizations to identify industry best practices and to incorporate such practices in a new generation of consensus industry standard form documents.

For more information, contact Kathy Hoffman at khoffman@nasbp.org.