ConsensusDocs™ releases agreement

ConsensusDocs has released ConsensusDocs 297 Joint Venture Line Item agreement, the first standard line item to accommodate joint ventures between contractors, construction managers, design professionals and other parties.

"This agreement makes it easier for multiple parties to combine efforts, expertise and resources, share project risks, and meet socioeconomic goals of federal programs," says Kory D. George, partner at Woods & Aitken LLP, Denver, and chair of the ConsensusDocs joint venture working group.

The new, additional standardized form is said to simplify the process of getting contracts signed and work performed for companies working on joint ventures. It can be used during the teaming or proposal development stages, as well as for project performance.