Ace Agreement 2017

Dwight Patten`s blog (published on the practical Law Construction Blog on February 17, 2017) makes it clear that ACE has faced similar challenges in updating its Professional Services Agreement (PSA). He claims to have created a “balanced” form that customers “will be satisfied with.” But are these claims piling up? And, more importantly, will it allow ACE to shed its reputation for producing “consultant-friendly” appointments? In all new documents, we have tried to meet modern and emerging practices and standards. For example, in 2017, PSA provides for a mutual obligation to comply with an agreed BIM protocol (clause 17). It was rightly pointed out that the parties should carefully examine each protocol and avoid any misinterpretation with the provisions of PSA 2017. PSA 2017 contains, as for the 2009 edition, a net contribution clause, but it has been simplified (section 10). There are now clearer provisions for the liability cap agreement and the parties are encouraged to discuss and agree on an appropriate cap, in addition to discussing the level of professional liability insurance coverage that the advisor must maintain. In particular, the liability limit is explicitly worded to include any liability that may arise from any guarantee that the advisor gives to other parties, which insurers should welcome. This article was first published on February 28, 2017 on the practical Law Construction Blog. Rosemary is ACE`s contract expert who knows deals by heart. If you are a member, please log in here to get 50% off selected contracts and agreements. .