On May 6, 2015, the Design-Build Institute of America (“DBIA”) released a suite of new bond forms prepared specifically for design-build projects. According to DBIA’s press release, the forms were co-authored by designers and builders and have been endorsed by two surety industry groups. As with any industry template form, consultation with an attorney is recommended to evaluate whether the form and its language are appropriate for the project and the client. Indeed, DBIA cautions users that its forms have important legal consequences and consultation with an attorney is recommended. Owners and contractors that use these forms should seek a legal review to avoid waiving any important contractual rights or remedies and potentially shortening applicable statutory or contractual limitations periods. If you would like to review the new forms, you can obtain sample copies by emailing Todd Rich at email@example.com.
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