Teaming Up? Avoid Unenforceable Agreements to Agree
There is a growing trend in the construction industry wherein contractors, subcontractors and designers are working together to pursue large construction projects, according to a JD Supra post by Snell & Wilmer.
“The terms of these collaborations are typically referred to as ‘teaming agreements’ which are intended to define the relationships, rights and responsibility of all parties involved during both the pursuit of the work and, if ultimately successful, the performance of the project including the financial remuneration,” the post explains.
It continues: Your goal in drafting these agreements is to define the relationship, the rights and responsibility of all parties involved on the “team” during both the pursuit of the contract and, if the contract is awarded, the performance of the project.”
