A™–, Exhibit A,. Insurance and Bonds, contemporaneously with this. Agreement. AIA Document A™–,. General Conditions of the. Contract for . AIA. ®. Document ATM. – Standard Form of Agreement Between Owner and Contractor where the basis of payment is the Cost of the Work Plus a. AIA Document A– adopts by reference and is intended for use with AIA Document A™–, General Conditions of the Contract for Construction.
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Please contact customerservices lexology. As discussed in a May blog articlethe American Association sia Architects AIA revise their form agreements between owner and contractor approximately every 10 years, and these form documents were recently revised by the AIA a couple of months ago.
Overview of the Revisions to AIA Owner-Contractor Construction Documents
This article focuses on aoa the changes from the version to the version of the following documents: AIA-A standard form agreement between owner and contractor where the basis of payment is a stipulated sum ; AIA-A standard form agreement between owner and contractor where the basis of payment is the cost of the work plus a02 fee with a guaranteed maximum price ; and AIA-A standard form agreement between owner and contractor where the basis of payment is cost of the work plus a fee without a guaranteed maximum price.
Some of the substantive changes to the Standard Form Agreements are highlighted below:. As indicated above, AIA made other minor revisions to the Standard Form Agreements, and the list above is not comprehensive of all revisions.
Anyone attempting to use the form documents should carefully examine and compare the version a1022 the form. If you would like to learn how Lexology can drive your content marketing strategy forward, please email enquiries lexology.
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Overview of the Revisions to AIA Owner-Contractor Construction Documents: King & Jurgens, L.L.C.
Register now for your free, tailored, daily legal newsfeed service. USA July 20 Some of the substantive changes to the Standard Form Agreements are highlighted below: As is the case with the AIA-A, the most significant change to the Standard Form Agreements is the creation of the insurance and bonds exhibit.
Under the version, much of the insurance and bonds information has been removed from the AIA-A aa102 placed into an exhibit that is attached to the Standard Form Agreements. This change allows for greater flexibility and easier customization of the insurance requirements. The Standard Form Agreements include a new method for calculating the amount that an owner must pay to a contractor for termination for convenience.
This termination fee is in addition to payments that the owner must make to the contractor for i work properly performed and ii costs incurred by reason of the termination, including costs attributable to termination of subcontracts. The progress payment calculation has been simplified across the Standard Form Agreements and now includes, among other minor adjustments, a provision adding change directive amounts to the progress payment calculation and a provision subtracting amounts that the contractor does not intend to pay to subcontractors.
The Standard Form Agreements also include a much more thorough procedure for withholding retainage. The AIA-A and AIA-A are occasionally executed before the contract documents are finalized and the guaranteed maximum price or control estimate may contain certain assumptions.
The AIA has added a paragraph to both form documents allowing for revisions to the a1002 documents that are consistent with the stated assumptions contained in the guaranteed maximum price or control estimate. The contractor is required to notify the owner and architect about any inconsistencies.
AIA-A now includes a section regarding procurement of long-lead items. This new section requires the contractor to prepare a list of long-lead items and allows the owner to procure such items on terms acceptable to the contractor. The contract for the long-lead items are later assigned to the contractor and the contractor must accept full responsibility for those contracts. The AIA-A and AIA-A also include a new section forbidding the contractor from making advance payments to suppliers for materials that have not been delivered to the project site without the prior qia of the owner.
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