Description
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Downloadable WORD Document — DBIA Document No. 525 (“Agreement”) should be used only when the parties intend that Owner pay Design-Builder a lump sum fixed price for the completion of all design and construction services. There will be greater mutual understanding and cooperation if the lump sum is established based on Owner’s Project Criteria that are well defined.
If there is uncertainty about Owner’s Project Criteria, or it remains to be developed by Owner and Design-Builder jointly, a cost-plus/guaranteed maximum price (“GMP”) contracting approach may be more suitable. In such case, the parties should use DBIA Document No. 530.
