New Construction Contract Documents, ConsensusDOCS, to be Released on September 28, 2007
This entry was posted on 9/26/2007 9:50 PM and is filed under Article,Contract Law,news.
20 construction associations collaborated to create a new series of form construction contract documents. The Associated General Contractors (AGC) and Construction Owners Association of America (COAA) are folding their form contract documents into the new ConsensusDOCS form contract documents. All participating associations, representing various segments of the construction industry, were allowed to participate in the drafting and all parties had a "full vote in deciding final contract terms."
It will be interesting to see if these documents will be accepted in the construction industry. I surmise that it will take some time for these documents to be widely accepted and used in an industry as conservative as the construction industry. Click here to visit the ConsensusDOCS website.
