If you must go down this path, be aware of how these shortcuts impact you.
Best Practices: Open Book Bidding
Over the last few years, I have noticed an increase in the number of construction contracts using “open book” provisions. The term “open book” describes a contract provision that allows Owners full transparency into the General Contractor’s sub-contracts. It should be noted that “open book” provision are not the same as audit rights. Audit rights…