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Description
| This document is a comprehensive agreement designed for design-build projects, where a single entity manages both design and construction services. It ensures streamlined collaboration, innovation, and cost efficiency, with compensation based on the cost of work plus the Design-Builder’s fee, which can be percentage-based, fixed, or capped, and includes a Guaranteed Maximum Price to protect the Owner from cost overruns. The agreement outlines essential aspects such as contract timelines, pricing, payment procedures, responsibilities, change orders, retainage, and final payment terms, while emphasizing timely completion with provisions for liquidated damages and bonuses for early completion. Supported by leading engineering organizations, it provides a clear framework for customization, compliance, performance expectations, and dispute resolution, making it an ideal solution for owners seeking clarity, accountability, and integrated solutions in their construction projects. |
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