Get the free Design-Build Lump Sum Agreement Template

Exhibit 1 To Parts 3, 4 and 5 Lump Sum Agreement [Date][Project Name] [County/ City], Virginia Project No. [0000000000] Contract ID # [C00000000DB00]Exhibit 1 to Parts 3, 4 and 5 ProjectSpecific Terms

How to fill out design-build lump sum agreement

How to fill out design-build lump sum agreement

1. Begin by gathering all relevant project documents, including the scope of work, drawings, and specifications.
2. Review the design-build lump sum agreement template and make any necessary modifications to fit the specific project requirements.
3. Fill in the parties involved in the agreement, including the owner, design-builder, and any other relevant stakeholders.
4. Specify the project details, such as project location, start and end dates, and project milestones.
5. Clearly define the scope of work to be performed by the design-builder, including any exclusions or limitations.
6. Outline the payment terms, including the total lump sum amount, payment schedule, and any retention amounts.
7. Include provisions for change orders and how they will be handled throughout the project.
8. Address any insurance and liability requirements for both parties.
9. Specify the process for dispute resolution, including any required mediation or arbitration.
10. Carefully review the completed agreement with all parties involved and make any necessary revisions before finalizing and signing the document.

Who needs design-build lump sum agreement?

1. Design-build lump sum agreements are commonly used in construction projects where a single entity is responsible for both the design and construction phases.
2. Owners who prefer a streamlined and integrated project delivery method often opt for design-build contracts.
3. General contractors or design-build firms also benefit from using lump sum agreements as they provide more certainty in terms of project costs.
4. Government agencies, private developers, and commercial entities involved in construction projects may also require design-build lump sum agreements.
5. Ultimately, any party involved in a construction project looking for a comprehensive and well-defined agreement can benefit from using a design-build lump sum agreement.

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What is design-build lump sum agreement?

A design-build lump sum agreement is a contract where a single entity is responsible for both the design and construction of a project, providing a fixed price for the entire project.

Who is required to file design-build lump sum agreement?

Entities involved in construction projects that use the design-build method are typically required to file a design-build lump sum agreement.

How to fill out design-build lump sum agreement?

To fill out a design-build lump sum agreement, provide the project details, including scope, duration, cost, and terms of payment, and have both parties sign the document.

What is the purpose of design-build lump sum agreement?

The purpose of a design-build lump sum agreement is to streamline the construction process by combining design and construction responsibilities, allowing for faster project completion and cost certainty.

What information must be reported on design-build lump sum agreement?

The agreement must include project description, total contract price, schedule, payment terms, and any specific responsibilities of the design-builder.