Terminology - Part 1

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If you feel like you don't need it, you can skip ahead but there's the Design-Bid-Build, so Design-Bid-Build, and that's the classic project delivery where you have the owner, they have a contract with the architect, an owner-architect agreement, they do the project, they design that whole long project, it goes through schematic design, design development, CDs, bidding, all of that, then there's a bid phase, so we've got the bid phase, at which point a bidder's chosen and then the construction starts. And for us, for the architects, that means we're in construction administration, so it's that very long process but it gives you a bunch of advantages. That process, where you have the one contract and then the second contract once a bidder is chosen, everybody has their sets of relationships with each other through the A201 General Conditions, there are a series of satellites around the architect, which are the consultants, a series of satellites around the GC, which are the subs, there's bankers, and environmental report people and things like that around the owner, so everybody's got their own set of satellites, everybody's got their own straightforward contract and they're all related to each other, partly because they're just doing a project together but also partly because they are contractual related through the A201 General Conditions, which is referenced into all of those different contracts.

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