ConsensusDOCS: What is the Meaning of ConsensusDOCS?
ConsensusDOCS means, This collection of construction contract documents has been approved by more than 20 industry associations representing owners, designers, general contractors, subcontractors and underwriters. The aim is to facilitate cooperation on the construction project. The tripartite agreement (ConcensusDOCS 300) is unique to this collection of documents and forms the decision-making team that represents the owner, the general contractor and the designer and makes joint decisions in the best interests of the project. Document 300 contains a joint compensation obligation in which each party promises to compensate the other to the extent of the negligence of the security party. Most other standard agreements provide unilateral compensation obligations for contractors, with the possible exception of the owner's liability which compensates for damage caused by hazardous materials in the workplace. The inclusion of compensation obligations by builders / engineers is unique and distinguishes the agreed Docs 300 from many other standard construction contracts. The United States Associated General Contractor (AGC) manages and sells these contracts.