ConsensusDocs Publishes New O&M Agreement
ConsensusDocs has released a new industry standard agreement for operations and maintenance. The ConsensusDocs 910 Standard Operations and Maintenance (O&M) Agreement is the first agreement that ConsensusDocs has published that focuses on construction work services that take place after substantial completion. The agreement provides an off-the-shelf contractual solution for an owner seeking to procure standalone O&M services. A unique feature of this agreement is that it allows for a flexible one- to five-year agreement period for which bonds may be provided to meet the challenges of a project with an extended period of performance. The terms and conditions are based on the fair and best practice terms published by ConsensusDocs, which were recently updated in December 2016.