Description
Gain an understanding of ConsensusDocs approach and philosophy to its construction forms compared to other industry forms.ConsensusDocs recently published the new Standard Master Subcontract Agreement Between Constructor and Subcontractor and the Standard Project Work Order. ConsensusDocs 755 is the master agreement that addresses general terms and conditions between a constructor and a subcontractor that will govern their relationship generally, across all projects on which the parties are working. ConsensusDocs 756 is the work order that provides project specific information addressing such terms as scope of work, applicable exhibits, subcontract price, retainage, and bond requirements. Together, the 755 and 756 form a complete subcontract agreement for each subcontract scope of work. This topic will discuss the ConsensusDocs approach and philosophy to its construction forms compared to other industry forms, explore the key revisions made to the existing ConsensusDocs 750 Standard Subcontract Form in order to transform it into a master subcontract form in the ConsensusDocs 755 and 756 forms. We will also explore other key provisions and risk allocations contained in the 755 form, from both the general contractor and subcontractor perspectives.
Date: 2020-01-28 Start Time: End Time:
Learning Objectives