Standardized P3 document unveiled

The Engineers Joint Contract Documents Committee (EJCDC) has released the first standard P3 contract document in the US, designed to increase efficiency in the procurement of deals across the country.

The EJCDC P3-508 contract presents a framework of contractual conditions catered for public and private entities.

Included in the document is scope for the attachment and incorporation of additional terms and contract documents to address project-specific requirements relating to design, construction, financing, operation, maintenance, revenue, and management.

The P3-508 document can also be used with a variety of design and construction or design-build documents.

It represents the first of its kind that has been prepared by an impartial organization