Updates to CM at Risk Contract Document

February 22, 2018 2:51 PM | Anonymous member (Administrator)

Several documents have been revised on the OFCC website at (click on Documents/Standard Requirements). The dates for recently revised documents will be shown as red on the website for approximately 2-3 months. Version Control Documents with changes tracked from the previous version and Combined Files have also been posted.

The various revisions include:
• "Self-Performed Work" is now a defined term and must be performed by the CM's or CM Affiliated Entity's direct employees.
• The CM's obligation related to Defective Work and schedule deficiencies increased from "begin to correct ... and recover" to "promptly commence and diligently pursue correction ... and recovery."
• The obligation to notify insurers providing property insurance for the Project from "A/E with the assistance of the Owner" to "Owner with the assistance of the CM and A/E."
• The method for paying the CM's Fee revised from "percent-complete progress basis" to "earned Cost of the Work on the basis of the CM's Fee percentage identified in the Agreement."
• Introduced a requirement that the CM develop Alternates during Preconstruction Stages and permits the Owner to use 'buy-out savings' to incorporate them into the Project.
• The CM is required to deliver to the Contracting Authority a new 'Acknowledgement of Surety' form to evidence that affected Surety or Sureties received notice of the increased penal sums.
• The Contracting Authority's receipt of an insurance company certified copy of complete insurance policy is now a condition precedent to payment of any portion of Contract Sum.

A complete synopsis of the changes to the CM at Risk Contract Documents is available on OFCC’s website.

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