AIA A101-2017 Standard Form of Agreement Between Owner and Contractor

Welcome to Marjorie Cowley, your trusted source for books and literature in the Arts & Entertainment category. On this page, we present to you the AIA A101-2017 Standard Form of Agreement Between Owner and Contractor. This agreement serves as a valuable resource for construction projects, ensuring a smooth and transparent relationship between the owner and contractor.

Introduction to the AIA A101-2017 Standard Form of Agreement

The AIA A101-2017 Standard Form of Agreement is an industry-standard document developed by the American Institute of Architects (AIA). It represents a legally binding agreement between the owner and the contractor, outlining the terms and conditions for a construction project where the basis of payment is a stipulated sum.

Key Features and Benefits

By utilizing the AIA A101-2017 Standard Form of Agreement, both owners and contractors can enjoy several benefits:

• Clarity: The agreement provides a clear and comprehensive outline of the project scope, schedule, and payment terms.
• Legal Protection: It establishes a legally binding contract that protects the rights and obligations of both parties, reducing the risk of disputes.
• Standardization: Being an industry-standard document, it ensures consistency and uniformity in project documentation.
• Transparency: The agreement promotes transparency by disclosing important project information, including insurance requirements and dispute resolution procedures.
• Risk Mitigation: It helps identify potential risks and facilitates risk-sharing arrangements between the owner and contractor.
• Flexibility: The agreement provides the option to attach additional documents, such as drawings and specifications, for a more detailed representation of the project.

Understanding the Agreement Clauses

The AIA A101-2017 Standard Form of Agreement comprises various clauses that govern different aspects of the project. Some of the key clauses include:

1. Scope of Work

This clause defines the project's scope of work, outlining the specific tasks and deliverables that the contractor is responsible for.

2. Contract Sum

The contract sum clause specifies the agreed-upon amount that the owner will pay the contractor for completing the project, which is typically a stipulated sum.

3. Schedule

The schedule clause defines the project timeline, including start and completion dates, milestones, and any applicable penalties or bonus arrangements related to timely completion.

4. Changes in the Work

This clause addresses changes in the project scope that may arise during the construction phase, including procedures for submission, evaluation, and approval of change orders.

5. Insurance and Indemnification

In this clause, the agreement outlines insurance requirements, ensuring that both parties have adequate coverage to protect against potential project risks and liabilities.

6. Termination

This clause enables termination of the agreement under specific circumstances, establishing the respective rights and obligations of the owner and contractor in such situations.

Why Choose Marjorie Cowley for the AIA A101-2017 Standard Form of Agreement?

Marjorie Cowley is your go-to destination for books and literature, catering to various industries, including Arts & Entertainment. Here's why you should choose us:

• Expertise: With years of experience in the industry, we have a deep understanding of the AIA A101-2017 Standard Form of Agreement and can guide you through its nuances.
• Extensive Collection: We offer an extensive collection of books and literature, ensuring you have access to valuable resources for your projects.
• Quality Assurance: All our products undergo strict quality checks to provide you with accurate and reliable information.
• Customer Satisfaction: We strive for customer satisfaction, ensuring prompt responses to queries and excellent after-sales support.

Conclusion

In conclusion, the AIA A101-2017 Standard Form of Agreement Between Owner and Contractor is a crucial document for construction projects where the basis of payment is a stipulated sum. With its comprehensive clauses, legal protection, and industry standardization, it promotes transparency, mitigates risks, and creates a strong foundation for a successful project.