The Design-Build Institute of America has released a full set of warranty bonds, proposal bonds and payment and performance bonds specifically for design-build projects. The new bond forms are the best model documents to use on design-build projects, serving as a fair and balanced basis for Design-Build Done Right™. The documents were developed by DBIA’s Documents Task Force, a committee of expert and experienced construction attorneys from across the country.
The new family of bond forms include a Proposal Bond (610) and a Warranty Bond (615), with 3 sets of Payment and Performance Bonds for use by Design-Builders (620 and 625), General Contractors (640 and 645) and Subcontractors (630 and 635). Completing the family of bond forms will be the Consent of Surety to Partial Release of Retainage (500-D6) and Consent of Surety to Release of Final Payment (500-D7).
Order a copy of the new bond forms through DBIA’s bookstore.
