Jason C. Tomasulo, JD, is Senior Counsel with Cohen Seglias. Jason focuses his practice on construction law and government contracts. Jason represents owners, general contractors, subcontractors, suppliers and sureties. His experience includes all aspects of the construction process, from contract analysis and negotiation to project counseling to dispute resolution. He says, “In today’s economy, it is increasingly difficult for public entities to obtain sufficient funding to undertake infrastructure projects. As a result, where enabling legislation is in place, public entities in the US have, in recent years, turned to the P3 model. One of the challenges that can sometimes prevent the use of a P3 arrangement for a particular project is the significant transaction costs involved in such endeavors. With federal, state and local governments using their own form agreements, a contractor often encounters an entirely new P3 agreement for each P3 project in which it is involved, resulting in significant expense reviewing and negotiating such agreements. As a result, the Engineers Joint Contract Documents Committee recently prepared a standard form P3 agreement, EJCDC P3-508, which is the first one we have seen, to address this need in the marketplace.”
Read a lawyer’s perspective on P3-508 and how the construction community can benefit from this form in Construction In Brief, the Cohen Seglias quarterly newsletter: https://www.cohenseglias.com/library/files/2015_-_volume_2.pdf