Surety Bond Quarterly - Fall 2015 - (Page 18)
Feature
DBIA
Releases New
Bond Forms for
Design-Build Projects
IN 1998 THE Design-Build
Institute of America (DBIA)
began publishing its family
of contract forms. Not having
the century of history that the
American Institute of Architects
(AIA) had in publishing forms,
DBIA recognized that there
were gaps in its menu of available documents. Project owners
and DBIA members were using
BY G. WILLIAM
surety bond forms produced by
QUATMAN
AIA and other organizations that
were not necessarily appropriate for design-build. This
gap needed to be closed, and more than two years ago
DBIA's Contract Documents Task Force began to identify
forms missing from both its family of documents and the
industry overall. That analysis led to the development of
14 new forms listed in the table below, all of which were
published in 2015.
The new forms include eight new bond forms, covering various stages of a design-build project; and several
18
contract arrangements; as well as six "consent of surety"
forms related to partial release of retainage and final payment. Early in the drafting of these bonds, DBIA reached
out to NASBP and SFAA for input. "We want these bonds
to be used in the industry and knew that we needed input
from those who sold and underwrote surety bonds. So we
reached out to NASBP and SFAA," said Lisa Washington,
Executive Director of DBIA.
Both organizations were eager to assist, lending assistance in drafting and brain-storming about the unique
aspects of design-build and the concerns of sureties,
owners, design-build firms, and design professionals. It
was not always easy, and a few times negotiations broke
down. But in the end, the drafters reached a consensus
on language that serves all parties' interests and will
benefit the industry. The forms have been endorsed by
both NASBP and SFAA for use by their members.
Various bond tiers
Design-build is not always delivered in one structure.
While the most common team formation is a contractorled team (as prime), which enters into subcontracts with
DBIA Form Name
Doc. No.
Proposal Bond
610
Warranty Bond
615
D-B Performance Bond
620
D-B Payment Bond
625
Sub-Performance Bond
630
Sub-Payment Bond
635
SURETY BOND QUARTERLY | FALL 2015
Table of Contents for the Digital Edition of Surety Bond Quarterly - Fall 2015
2015-2016 Executive Committee
NASBP Upcoming Meetings & Events
From the CEO - Resources: Forms, Opinions & Risk Management Practices
Practical Insights: What You Need to Know - Key Takeaways
Alternative Project Delivery, Alternative Risks
Contractors in a New Age of Product Delivery - Sharing Design Liability
DBIA Releases New Bond Forms for Design-Build Projects
AIA’s New Teaming Agreement: AIA Document C102TM–2015
ConsensusDocs Contracts Help Ensure Smooth Sailing
NASBP’s Seven Virtual Seminars on Leadership
Guidance in Addressing Ethical Dilemmas
Web-Exclusive Features
2015 NASBP Resource Directory
Index to Advertisers
Surety Bond Quarterly - Fall 2015
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