Photo: Ronstik via Adobe Stock Streamlining the Negotiation Process of Management Agreements
In his Construction Law column, Ken Block outlines several business terms which may be included in a Request for Proposal (RFP), and provides examples of how the owner may want to handle them.
September 13, 2022 at 10:00 AM
6 minute read
ConstructionThe negotiation of a construction management agreement (CMA) for a project of a substantial size can be a long, arduous and costly struggle unless key business and legal terms are resolved before the owner's first draft of the CMA for the specific project is presented to the construction manager (CM) and its counsel for comment. A good way to streamline this process and save time and legal expense is to start with a Request for Proposal (RFP) from the owner to selected bidders outlining the basic contract terms the owner in anticipating will be included the final CMA. A template form of the CMA should also accompany the RFP and bidders should be instructed to provide high level comments in memo (not redline) form.
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