ConsensusDOCS Provides Contractor Tools for Tough Times

More than 350 AGC members took advantage of the live presentation of AGC’s highly successful and timely audio conference, “Tools for Tough Times”.  One of the key tools discussed in detail by the panel of distinguished presenters was the ConsensusDOCSTM consensus standard construction contract documents. ConsensusDOCS contracts contain specific provisions that allow Contractors to obtain financial information, which is especially important in the current financial environment.  If you are using the American Institute of Architect (AIA) A201TM standard contract document, then you will not have the same ability to obtain owner financial information. This was one of the major reasons for AGC’s non-endorsement of the A201. In addition, ConsensusDOCS provide useful documents that help implement financial requests in a fair and balanced fashion.  The ConsensusDOCS standard contract 290, Guidelines for Obtaining Owner Financial Information, and the related Financial Questionnaire 290.1 provide an easy and direct way for contractors to quickly determine the financial viability of projects.  Additionally, ConsensusDOCS 220 and 221 provide useful Contractor prequalification forms that can be used for Prime or Specialty Contractors. As the 290 expressly highlights, “[i]n any contractual venture, each Party has a legitimate interest and responsibility in ascertaining whether the other Party is fully capable of performing all of its contractual obligations…The proven ability to pay is just as important as the proven ability to perform.”  Contractors value ConsensusDOCS-based projects because they clearly possess the contractual right to request and obtain financial viability information.  The 290 not only provides a reasonable approach to requesting owner information, but also is endorsed by national owner groups including COAA, CURT and NASFA. In these tough times, every project needs the solid contractual foundation provided by ConsensusDOCS…contracts written by and for construction industry professionals.  ConsensusDOCS incorporate best practices, contain fair and reasonable provisions, and benefit the project’s best interests.  And, as an added benefit, all AGC members receive a 20% discount on all ConsensusDOCS’ products purchased through the AGC Bookstore (www.agc.org/bookstore). Please visit www.agc.org/cs/contracts for more information. ConsensusDOCS…Construction Contracts Built By Consensus.