ConsensusDOCS™, an industry-wide coalition, is publishing a new contract agreement written to specifically address the complexities of federal subcontracting, making it easier for construction companies to work on federal government construction projects. The first standard subcontract to address the complex contractual rules and regulations of federal government projects, ConsensusDOCS 752 – Subcontract for Federal Government Construction Projects, will benefit general and specialty contractors at a time when the stimulus and other federal construction programs are rapidly expanding.
“With America looking to the construction community to rebuild our economy and restore our hope, the last thing we want is contractors being excessively burdened by complex rules and regulations,” says Tom Kelleher, senior partner at Smith, Currie & Hancock LLP and chair of the national coalition of associations that wrote and endorsed the new standard contract. “The new ConsensusDOCS federal subcontract will keep needed construction projects from getting tangled up in red tape.”
ConsensusDOCS 752 was written, reviewed, and approved by professionals representing every sector of the construction industry, from contractors and subcontractors to owners and sureties. It addresses both the terms and conditions needed for subcontractors and contractors to comply with Federal Acquisition Regulations and new legal and ethical requirements pertaining to the legal status of employees, complying with ethics rules, and federal Prompt Pay Act requirements.
For more information or to download excerpted samples, visit www.consensusdocs.org.