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