As the year comes to an end, here is a reminder of two new ConsensusDocs Resources Centers that ConsensusDocs offered this year and to which it continues to add webinars, papers, and slides.

1) ConsensusDocs Price Escalation Resource Center

The ConsensusDocs Price Escalation Resource Center provides numerous resources addressing material price escalation.

The free recording of ConsensusDocs October 19 webinar, “Price Escalation & Supply-Chain Disruption: Legal and Practical Remedies and Mitigation,” was also added to the Center.

The webinar features Brian Perlberg, Director and Senior Counsel of ConsensusDocs (pictured far left), and Adrian Bastianelli, III, Esq., Partner with NASBP Attorney Advisory Council firm Peckar & Abramson, P.C. (pictured left.) They explore contractual remedies for price increases and material shortages, including using the ConsensusDocs 200.1 Price Escalation Clause as a way for owners and contractors to mitigate these risks. They also discuss practical negotiation strategies for public and private work, as well as strategies for existing contracted work versus work not yet under contract. View the free recording here and the slide presentation PDF here.

In addition, ConsensusDocs has made available an AGC slide presentation titled, “Soaring Material and Supply-Chain Costs and Delays: What to Expect, How to Cope”. The free PDF offers a look at a 2021 AGC survey of pandemic impact on construction projects, a discussion of price increases and material shortages, and a look at price escalation clauses. These are just some of the many resources that may be helpful to you and your construction clients.

2) The ConsensusDocs Performance and Payment Bonds Resource Center
You may recall that in September 2020 ConsensusDocs published eight newly revised performance and payment bond forms. The forms were a result of dialogue and discussion among the members of the ConsensusDocs bond forms working group that included representatives from owners, prime contractors, subcontractors and the surety industry, including NASBP. The forms were redesigned out of a recognized need to reconcile the demands and expectations of the parties to the surety bond—demands and expectations that often are not in alignment.

This ConsensusDocs Performance and Payment Bonds Resource Center provides important resources addressing payment and performance bonds. Among the resources is a white paper, written in 2021, that presents the differing expectations concerning the performance and payment bond and offers a brief discussion of the legal considerations in the context of those expectations. The white paper also describes the forms’ key provisions and how they reflect a balancing of each parties’ interests.

Also, the Resource Center provides a complete list of the titles and descriptions of each of the 11 ConsensusDocs bond forms as well as a link to a NASBP Surety Bond Quarterly article about the revised ConsensusDocs bond forms.

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Because NASBP is an endorsing member of ConsensusDocs, the NASBP membership nearly 18% off of their purchase of ConsensusDocs subscription packages from ConsensusDocs at the ConsensusDocs online store when the following discount code is provided when prompted during purchase, Promotion Code: 62UY4MST.

For more information, visit consensusdocs.org.
For information about the ConsensusDocs bond forms, visit nasbp.org.
NASBP also provides the ConsensusDocs bond forms for download from learn.nasbp.org.

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.