Description
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Downloadable WORD Document — DBIA Document No. 560 Standard Form of Agreement Between Design-Builder and Design-Build Subcontractor — Cost Plus Fee with an Option for a Guaranteed Maximum Price (2022 Edition) (“Agreement”) sets forth the terms and conditions under which the design and construction of a specified portion of the Project will be performed, and should be used when the parties intend that Design-Builder pay Design-Build Subcontractor the Cost of the Work plus a Fee, with or without a Guaranteed Maximum Price (GMP).
If there is uncertainty about Owner’s Project Criteria, or it remains to be developed by Owner and Design-Builder jointly, a cost-plus/GMP contracting approach is desirable. If there is certainty as to Owner’s Project Criteria, a lump sum fixed price for the completion of the Work may be suitable. In such case, the parties should use DBIA Document No. 565 Standard Form of Agreement Between Design-Builder and Design-Build Subcontractor – Lump Sum.
