NEEDDA has created model contract documents, identified below, that are intended to serve as a resource for firms delivering environmental and engineering due diligence services and their clients.
FAQs regarding these contract documents may be found on the About Us page of this website.
NEEDDA Model Master Services Agreement – MSA for multiple assignments for repeat clients
NEEDDA Model Terms and Conditions – May be attached to and incorporated into due diligence proposals
NEEDDA Model Additional Terms and Conditions – A simple one-page addition in the case of a client-designed contract, addressing certain risk transfer clauses
NEEDDA Model Reliance Letter – Traditional reliance letter for a client’s lender or borrower, etc.
NEEDDA Model Non Reliance Letter – For use when a third party is to receive a copy of your report for information purposes only, but not for reliance purposes
PCA’s are a valuable tool for client to help owners, buyers, sellers, and/or lenders understand physical real estate assets and make informed decisions. Although ASTM has developed ASTM E2018 Standard Guide for Property Condition Assessments: Baseline Property Condition Assessment Process to provide a framework for PCA reports, the actual work performed can vary significantly. Costs can range from as little as $2,000 or well over $20,000 depending on the scope of work. Generally, with the higher fee comes greater depth of evaluation.
In an ideal world, everyone involved in a real estate transaction would have an in-depth understanding of the ASTM standard. (You can buy a copy of the standard here). However, if you haven’t had time to study the Standard, the discussion below may help you work with your consultant to promote a common understanding of your objectives and the limitations of the report.