Standard Form Single Purpose Entity Agreement for Integrated Project Delivery
$19.99 - each
AIA Document C195™–2008 is a standard form single purpose entity (SPE) agreement through which the owner, architect, construction manager, and perhaps other key project participants, each become members of a limited liability company. The sole purpose of the company is to design and construct a project utilizing the principles of integrated project delivery (IPD) established in Integrated Project Delivery: A Guide. AIA Document C195–2008 provides the framework for a collaborative environment in which the company operates in furtherance of cost and performance goals that the members jointly establish. To obtain project funding, the company enters into a separate agreement with the owner. To design and construct the project, the company enters into separate agreements with the architect, construction manager, other non-owner members, and with non-member consultants and contractor's. The compensation model in the non-owner member agreements is goal-oriented and provides incentives for collaboration in design and construction of the project, and for the quick and effective resolution of problems as they arise. This highly collaborative process has the potential to result in a high quality project for the owner, and substantial monetary and intangible rewards for the other members.
When to use:
- Large project
- Agreement forms a limited liability company (LLC)