Create a pool of suppliers that cover the broad spectrum of services.
Self-performance does create additional revenue streams for the general contractor and you do need to address this.
The AIA is the predominant source for standard forms, but it isn't the only source.
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.
Low-ball contractor's win bids with the intention of making up losses through change orders.
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.
Owner's will begin to see the value and one day, managing a project in any other way will seem impractical.
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.