In light of new and possibly more tariffs impacting construction, ConsensusDocs offers helpful tools that can potentially work with new and even existing construction contracts. The ConsensusDocs 200.1, Time and Price Impacted Materials Amendment and Schedule A, provides language that is flexible and allows prices to escalate up or down based on objective indexes.
The 200.1 Amendment is flexible for any material, so a specific index is not listed. Prices can escalate or descend, which is one of the reasons why construction owners’ groups like the National Association of State Facility Administrators, Construction Users Roundtable, and Construction Owners Association of America, have endorsed this document as part of ConsensusDocs in 2007. Anyone can download a sample of the 200.1; simply register at the ConsensusDocs website.
Though other standard contract documents produced in the industry are often silent on this issue, ConsensusDocs documents explicitly provide that a change of law after contract signing merits a price adjustment through change order. Under the ConsensusDocs 200 Owner/Constructor Agreement and General Conditions ©2016, section 3.21 requires the Constructor (General Contractor) to comply with all applicable laws at their costs. However, section 3.21.1. explicitly states: “The Contract Price or Contract Time shall be equitably adjusted by Change Order for additional costs or time needed resulting from any change in Law, including increased taxes, enacted after the date of this Agreement (emphasis added).” The 200 is for design-bid-build, but this provision is flowed down consistently to other applicable ConsensusDocs lump sum agreements, such as the ConsensusDocs 415 Design-Build Agreement (Lump Sum).
The ConsensusDocs 200.1 Time and Price Impacted Materials Amendment and Schedule A can be attached to a prime agreement and then used for subcontract agreements as well. The Guidebook for the 200.1 Amendment can be found at the ConsensusDocs site.
The NASBP membership can save 20% on ConsensusDocs document subscription packages
Because NASBP is an endorsing member of ConsensusDocs, the NASBP membership receives 20% off of their purchase of ConsensusDocs subscription packages from ConsensusDocs http://consensusdocs.org/ when they provide the following discount code when prompted during purchase, Promotion Code: NASBP400. For more information, visit http://consensusdocs.org/.
