The Design-Build Institute of America (DBIA) has released what it claims to be the first and only full set of warranty bonds, proposal bonds, and payment and performance bonds that are specifically crafted for design-build projects.
A task force within the Washington-based DBIA, chaired by G. William Quatman, the general counsel for Burns and McDonnell, worked over the past year on forms that are tailored to this sector. The coauthors of the forms include designers and builders. The National Association of Surety Bond Producers and the Surety & Fidelity Association of America have endorsed the documents.
The new family of bond forms includes a Proposal Bond (610), a Warranty Bond (615), and three sets of Payment and Performance Bonds for Design-Builders (620 and 625), Contractors (640 and 645), and Subcontractors (630 and 635).
“Mirroring the design-build philosophy, DBIA’s family of contract documents is reflective of our diverse membership base representing the needs of both public and private owners, general and specialty contractors, architects, consultants, and engineers,” says Lisa Washington, the Institute’s Executive Director and CEO. “They are written to guide success for the entire project team – owners and practitioners alike.”
A spokesperson for the Institute, Geoff Corey, tells BD+C that his organization focuses primarily on nonresidential activities. “So these forms would be of real interest to [AEC] firms doing design-build commercial or government projects.”
He also points out that many AEC firms that don’t specialize in design-build enter these projects through joint ventures and LLCs, or are hired subcontractors. “They would probably be interested in using these model forms since they’ve been created for design-build projects,” says Corey.
DBIA states that the advantage of these documents is that they offer one solicitation, one award, and one contract to administer. The documents are also adaptable to a project team’s characteristics.
The bond forms, as well as other contract and consent forms are available on DBIA’s website.
Related Stories
| Aug 11, 2010
NBBJ selected to design Russell Investments’ Seattle headquarters
NBBJ has been hired by Russell Investments as the architectural firm to design the interior space of its new global headquarters at 1301 2nd Avenue, a building also designed by NBBJ.
| Aug 11, 2010
High-profit design firms invest in in-house training
Forty-three percent of high-profit architecture, engineering, and environmental consulting firms have in-house training staff, according to a study by ZweigWhite. The 2008-2009 Successful Firm Survey reports that only 36% of firms overall have in-house training staff. In addition, 52% of high-profit firms use an online training system or service.
| Aug 11, 2010
Construction cost trend remains negative despite August increases, according to AGC
Despite increases in construction costs in August, new figures released today by the U.S. Bureau of Labor Statistics indicate that prices for the sector remain significantly down from a year ago, the chief economist for the Associated General Contractors of America said today in analyzing the data.
| Aug 11, 2010
Help Wanted: Architect for $100 million 'Discovery Park' in Union City, Tennessee
The Robert E. and Jenny D. Kirkland Foundation is identifying architects interested in designing a 50-acre, multi-million dollar complex in Union City, TN. Discovery Park of America will be a world-class, multi-faceted venue presenting exhibits and interactive experiences about history, nature, art, and science.
| Aug 11, 2010
Clark Group, Hensel Phelps among nation's largest federal government contractors, according to BD+C's Giants 300 report
A ranking of the Top 40 Federal Government Contractors based on Building Design+Construction's 2009 Giants 300 survey. For more Giants 300 rankings, visit http://www.BDCnetwork.com/Giants
| Aug 11, 2010
Schmidt Associates and Johnson Melloh form new company, Energy Solutions by JMS
Schmidt Associates, a full-service architecture and engineering firm based in Indianapolis (and a 2008 BD+C Best Firms to Work For winner), and Johnson Melloh, a mechanical contractor, have formed a new company called Energy Solutions by JMS. The two will share resources through the new company to design and construct energy-efficient systems.
| Aug 11, 2010
Report: Fraud levels fall for construction industry, but companies still losing $6.4 million on average
The global construction, engineering and infrastructure industry saw a significant decline in fraud activity with companies losing an average of $6.4 million over the last three years, according to the latest edition of the Kroll Annual Global Fraud Report, released today at the Association of Corporate Counsel’s 2009 Annual Meeting in Boston. This new figure represents less than half of last year’s amount of $14.2 million.
