Last week, ConsensusDocs released the new ConsensusDocs 299 Joint Venture LLC Agreement, which provides the first industry standard contract for joint ventures of contractors, contract managers, design builders and design professionals utilizing an LLC model. The agreement is flexible to accommodate joint ventures between contractors, construction managers and design builders, as well as those incorporating an architect, engineer or other design professional.
Joint venture arrangements have long been an important tool in construction industry procurement. The new joint venture LLC agreement makes it easier for multiple parties to combine efforts, pool and increase capacity, combine expertise and resources, share risks on specific projects, and further the socio-economic goals of federal set-aside programs such as the SBA mentor-protégé program.
“In today’s market, we’re seeing an increase in joint ventures between general contractors, and the new joint venture document provides a solid contractual foundation for all involved parties,” said Kory D. George, partner at Woods & Aitken LLP and chair of the ConsensusDocs joint venture working group.
Firms working on joint ventures now have an additional standardized form that simplifies getting contracts signed and work performed. It can be used at the teaming or proposal development stage, as well as for project performance.
The newly-published agreement furthers the coalition’s goal of writing fairer contracts to deliver better project results with less litigation. Similar to all ConsensusDocs standard contract documents, this agreement takes a project-first approach and promotes collaboration, communication and integration.
NECA members can receive a 20% discount when registering their account with ConsensusDocs. Call (703) 837-5408 to register or for more information. Use partner code: NECA; Promotion Code: 100 when registering your account.
ConsensusDocs are the only consensus standard contracts written and endorsed by a unique coalition of 38 design and construction industry associations, including NECA. ConsensusDocs remains committed to improving the industry by providing best practice contract documents. For more information, visit www.ConsensusDocs.org.
FREE Online Tour of the New ConsensusDocs Technology
Arial;mso-ansi-language:EN;mso-bidi-font-weight:bold">Thursday, February 28, 2013, 2:00-3:00 pm ET
mso-ansi-language:EN;mso-bidi-font-weight:bold">This 60-minute webinar will provide you with an overview of the new ConsensusDocs technology platform features, including:
- 24/7 Access – Anytime, anywhere access via a secure, cloud-based system
- Easy Editing – Use MS Word® to customize ConsensusDocs contracts
- Free Collaboration Arial;mso-ansi-language:EN"> – Collaborate with others for free - you control editing rights
- Automatic Version Control Arial;mso-ansi-language:EN"> – System-generated version control for your negotiations
- Create Favorites – Save ConsensusDocs contracts modified to meet your needs
- Conversions – Upload and convert your own documents (Word/PDF and PDF/Word)
- Comparisons – Quickly see differences between your documents
- Free Guidance – Embedded instructions, Resources, Guidebook and more
Register today at