AIA Document A101™—2017, Standard Form of Agreement Between Owner and Contractor where the basis of payment is a Stipulated Sum, includes a number of changes that make the document easier to understand and easier to use. A few of the key changes are addressed below:
Checkboxes have been added that clarify key contract dates. As an example, the format for the date of commencement of the work has been changed to a checkbox allowing the parties to select either (1) the date of the Agreement, (2) the issuance of a notice to proceed (NTP) by the Owner, or (3) a different date as agreed by the parties. Additionally, a checkbox has been added so that the parties can select whether Substantial Completion of the entire Work will be achieved no later than a specified calendar date or within a certain number of days from the date of commencement.
The provisions for the calculation of progress payments have been clarified and simplified to clearly delineate the basis for each progress payment.
A more prescriptive provision on retainage has been included that will allow the parties to clearly delineate the retainage amount, exclusions from retainage, and how retainage may be reduced at Substantial Completion.
A fill-point has been added for the parties to identify the termination fee that the Owner will pay to the Contractor in the event of a termination for convenience. This provision works in conjunction with Section 14.4.3 of AIA Document A201™–2017, General Conditions of the Contract for Construction.
Allows for AIA Documents E204™–2017, Sustainable Projects Exhibit, and any applicable Sustainability Plan to be incorporated as a Contract Document when used on a Sustainable Project.
The document now includes A101™—2017, Exhibit A, Insurance and Bonds. The new Exhibit A provides a single document that allows for the easy selection of various types of coverage for the Project and appropriate policy limits. However, it is important to note that additional terms related to insurance are found in Article 11 of AIA Document A201™–2017.
