New Standard Master Subcontract by ConsensusDocs Facilitates Best Practice Subcontracting Practices
Business Tools
On: December 18, 2019 | By:
In July, 2019, ConsensusDocs published the new Standard Master Subcontract Agreement Between Constructor and Subcontractor, as well as the Standard Project Work Order. The new standard master agreement (ConsensusDocs 755) allows parties to negotiate the standard terms and conditions of their working relationship once, and then issue multiple project work orders (ConsensusDocs 756) without having to negotiate specific legal terms. General terms and conditions addressing such terms as indemnification, notice requirements, and dispute resolution only have to be negotiated once. Project specific terms, which are often negotiated by project field employees as well as insurance and bonding requirements are addressed in the project work order.
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