Important Updates to ConsensusDocs Standard Construction Contracts

On September 20, ConsensusDocs published comprehensive revisions to multiple prime and subcontract agreements. The ConsensusDocs Contract Content Drafting Council reviewed industry feedback and refined the standard contract documents to ensure they identify and establish industry best practices. The updates include important revisions addressing design delegation, builder’s risk insurance, consequential damages, and more. NASBP reviewed and provided comments about the forms to the Drafting Council.

Updated contract documents include:

•    ConsensusDocs 200 — Standard Agreement and General Conditions Between Owner and Constructor (Lump Sum)
•    ConsensusDocs 205 — Standard Agreement and General Conditions Between Owner and Constructor (Short Form Lump Sum)
•    ConsensusDocs 230 — Standard Agreement and General Conditions Between Owner and Constructor (Cost of the Work Plus a Fee with GMP)
•    ConsensusDocs 750 — Standard Agreement Between Constructor and Subcontractor
•    ConsensusDocs 751 — Standard Short Form Agreement Between Constructor and Subcontractor

ConsensusDocs held a webinar to discuss these updates, you can view the free webinar recording here. The accompanying presentation can be found here.

November 9 NASBP-supported ConsensusDocs Webinar Focuses on How State Laws Impact Contractors’ Bottom Line

ConsensusDocs next webinar, at 2:00 p.m. ET on Thursday, November 9, will review specific state treatment of particular legal issues and how to navigate state laws.

This NASBP-supported webinar, State Laws That Impact Your Project: From Pay-if-Paid to Indemnification to Notices, will help contractors make sure internal procedures to perform work are updated. Topics that will be covered include pay-if-paid clauses, prompt pay laws, anti-indemnification provisions, and lien notices. The webinar panelists will share how the AGC/ABA State Law Matrix can help before your contractor client signs a new contract. As a bonus, all registrants will receive a $99 discount code to use when purchasing a subscription to the AGC/ABA Construction State Law Matrix.

As a current NASBP member, you will receive $20 off on your registration rate using the code—w23q4nasbp—upon checkout, reducing the price to $79. Remember that ConsensusDocs subscribers can receive $50 off.

Don’t miss this opportunity to learn about state laws that impact a contractor’s ability to bid, contract, and get paid on a construction project. Register today.

For more information about NASBP’s active role as an endorsing member of ConsensusDocs, visit nasbp.org.

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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 42 industry organizations to identify industry best practices and to incorporate such practices in a new generation of consensus industry standard form documents.