Specialty News

November 2010 Archive

Updated Construction Financing Guide

Wednesday, November 17, 2010

Originally written in 1999, a task force of AGC members updated and completed the AGC Guide to Construction Financing-Second Edition (PDF).  This 26-page publication clearly explains the construction financing process and points out some of the opportunities and pitfalls for the contractor. It is intended to serve a reference to get contractors thinking about the risks associated with project financing.

Free Resources From ConsensusDOCS

Thursday, November 11, 2010

www.ConsensusDOCS.org

ConsensusDOCS offers a variety of free resources to help you conduct business, including detailed information on project delivery options and sample contracts.

Visit the ConsensusDOCS Web site to download these free resources and more at www.ConsensusDOCS.org.

ConsensusDOCS are the only standard contract documents written by a coalition of 28 leading construction industry associations, including The Associated General Contractors of America.

AGC members receive a 20% discount on all ConsensusDOCS products.  Purchase at www.ConsensusDOCS.org and use Partner Code "AGC" and Promotion Code "100".

For more information, contact Megan McGarvey at (703) 837-5369 or mcgarveym@agc.org.

The First and Only Industry Standard Subsubcontract - ConsensusDOCS 725

Tuesday, November 9, 2010

The ConsensusDOCS 725 - Agreement Between Subcontractor and Subsubcontractor is the only standard subsubcontract available.  Rather than simply using a purchase order or trying to alter a subcontract, the ConsensusDOCS 725 was specifically designed to address the unique characteristics of subsubcontracting.  This straightforward, six-page agreement provides an ideal base for the somewhat simpler subsubcontracting relationship.  It includes essential provisions addressing issues such as safety, change orders, payment, indemnity and much more.  It coordinates important flow-down clauses and incorporates similar terms to upstream agreements.  The ConsensusDOCS 725 also contains flexible provisions for the incorporation of exhibits to address scope of work, schedule, insurance and other subjects.

While modified to address the special needs of subsubcontracting, the new subsubcontract document is still based upon the risk allocation philosophy found in the rest of the ConsensusDOCS family.  The ConsensusDOCS subsubcontracting agreement, as well as every document in the ConsensusDOCS family, was developed through a collaborative effort of a team of professionals representing every part of the construction process, including designers, owners, contractors, subcontractors and surety professionals.  ConsensusDOCS are the only standard contracts written by a coalition of 28 leading industry associations, including AGC.

All project stakeholders affected, directly or indirectly, by subsubcontracting practices would benefit in using the new ConsensusDOCS 725 Standard Subsubcontract Agreement.

All AGC members receive a 20% discount on all ConsensusDOCS documents.  Purchase at www.ConsensusDOCS.org and use Partner Code "AGC" and Promotion Code "100".

For more information, contact Megan McGarvey at (703) 837-5369 or mcgarveym@agc.org.

Save The Date: 2011 Building Contractors Conference

Wednesday, November 3, 2010

The 2011 AGC Building Contractors Conference will be held September 21-24, 2011 at the Westin La Cantera Resort in San Antonio, Texas.  Registration will open in Spring 2011.  Don't forget to mark these dates down on your calendar