When To Use
Use C199™ when a Single Purpose Entity’s LLC formed under C195 needs to engage a contractor to provide pre-construction and construction services to the project. This document is suitable for large-scale, integrated project delivery.
What It Does
C199 is an agreement between a single-purpose entity (SPE) formed under C195 and a contractor. C199 is intended to be a flexible document. C199 can be used for a contractor that provides only construction services, or for one that provides both preconstruction and construction services.
C199 is not intended for use in competitive bidding and relies upon an agreed-upon contract sum, which can be either a stipulated sum (fixed price) or the cost of the work plus a fee, with a guaranteed maximum price. In addition to the contract sum, C199 allows the contractor to receive additional profit through incentive and goal-achievement compensation.
