Our models determined that both parties were at risk using blended rates.
Once you have a short list of candidates based on qualifications, (and ONLY then) you can consider price.
There are a number of organizations around the world that also offer standard construction forms.
Create a pool of suppliers that cover the broad spectrum of services.
When we consider how to save costs in construction, we are essentially trying to avoid paying extra costs.
This latest 2017 edition of the AIA Contract Documents is the sixteenth edition of these documents.
A unique method of creating a legal entity that falls short of forming a Joint-Venture (JV) yet goes further than typical construction agreements.
Using PBA’s will require significant adjustments and all parties will need to rethink how they operate.
PBA’s work like a Trust that holds funds from an Owner as payment to the general contractor.
There are only certain types of suppliers who have the training and legal obligation to look after the Owner’s best interests.
The SEC’s focus on these issues foretells of major changes for construction in the future.
You should bear that in mind and recognize that your payment is always a form of reimbursement.