Summary
The G728™–2024 and G729™–2024 are AIA forms designed for Contractors to request proof of the Owner’s financial arrangements (G728) and for Owners to respond with financial evidence (G729). These documents ensure that the Owner has sufficient financing to meet contractual obligations, enhancing transparency and trust between Owner and Contractor. They can be modified for similar use by other parties under aligned agreements.
What are G728-2024 and G729-2024?
G728-2024 is a form that can be used by the Contractor to request that the Owner provide evidence that it has made sufficient financial arrangements to meet its obligations under the Contract. G729-2024 is completed by the Owner in responding to the Contractor’s request.
What is the purpose of G728-2024 and G729-2024?
Key AIA Contract Documents, including the A201-2017, have long provided terms allowing the Contractor to request and obtain information to prove that the Project Owner has adequate financing to meet the Owner’s obligations under the Contract for construction. However, there have been no AIA Contract Documents released to facilitate the Contractor’s request for financial information or the Owner’s response. G728-2024 and G729-2024 address this void and provide a vehicle for the request and response. G728-2024 and G729-2024 are coordinated to reflect the rights and obligations of the Contractor and Owner as outlined in the AIA Contract Documents.
Can G728-2024 and G729-2024 be used by parties other than the Contractor and Owner?
Yes, if the underlying agreement provides for the right to request proof that adequate financial arrangements have been made to meet the agreement’s obligations, then G728-2024 and G729-2024 can be used by the parties to that agreement. While G728-2024 and G729-2024 are styled as between the Contractor and Owner, they can be used by other parties with minimal edits.