The Associated General Contractors of America recently approved a comprehensive catalog of construction contract documents, a collaborative effort of leading construction associations aimed at bringing fair and balanced documents to market. Contracts with widespread backing will save transactional time and money by eliminating the need to repetitively negotiate one-sided terms.
Specifically, AGC is approving the following consensus contracts that will replace the corresponding AGC contracts:
- Standard Agreement Between Contractor and Subcontractor
- Standard Agreement and General Conditions Between Owner and Contractor
- Electronic Communications Addendum
- Standard Agreement Between Owner and Architect/Engineer
- Standard Agreement and General Conditions Between Owner and Design-Builder
- Standard Agreement and General Conditions Between Owner and Construction Manager (At-Risk)
Several participating associations, including AGC and the Construction Owners Association of America, are expected to fold their current documents program into this consensus process. Currently, AGC produces more than 100 contract documents which cover all project delivery methods.