Vetting — Tripartite Construction Agreement

What This Service Is

When you are the owner, a Project Management Consultant (PMC) — an expert who oversees construction — and a builder all sign a three-party agreement, it's called a tripartite agreement. Before you sign, we help you check this agreement. This allows everyone involved to find parts that might put them at too much risk. For example, the PMC might be at risk if they approve work incorrectly. The builder might be at risk if you don't pay them. And all three of you might disagree on what work is included. Each person in a tripartite agreement benefits from their own lawyer checking the document.

What the Service Entails

Each party in a three-party agreement has different risks. The PMC faces risk if they approve work that isn't up to standard. The builder faces risk if you don't pay on time. You, as the owner, face risks like disagreements over the work or poor quality. We review the agreement from your point of view. We look for vague rules about how work is approved that could cause fights. We check payment rules that might make you pay twice for the same work. We also review changes to the project that don't give you enough control. We give you a Preliminary Vetting Report. This report lists every concern from your side. After we discuss these findings and your options for negotiation, you will receive a Final Vetting Report. This report includes recommended changes to the agreement.

Our Specialized Inputs

We specifically look at the rules for approving work. This is often the most disputed part of three-party agreements. We make sure the PMC's job for approving work is clear. We also ensure the builder gets paid only when specific project stages are finished and approved.