The AIA has worked closely with the National Association of Surety Bond Producers (NASBP) and the Surety-Fidelity Association of America (SFAA) to develop the new guarantee loan that will cover the contractor`s post-closing guarantee obligations when a traditional performance loan no longer offers hedging. This new loan is a useful tool for homeowners and contractors who wish to pass the warranty process more successfully, especially for complex projects. Learn more If a real estate owner retains an architect or contractor to carry out work related to his or her property, the owner is often informed of a “standard” form agreement developed by the American Institute of Architects (AIA). This is usually accompanied by the assurance that the “independently developed” agreement is known, widespread and takes due account of the interests of both parties. It is understandable that this seems attractive to many owners who wish to launch their projects as quickly as possible, and the agreement will finally be signed after a brief review without revision. However, on closer inspection, homeowners will find that they are at a significant disadvantage under the standard agreement. The CMc approach is similar to the traditional tripartie method of project implementation. There, the project owner partners directly with the designer, often a general contractor (GENERAL Contractor, GC), and the lead designer. In the CMc approach, it is the manufacturer of the CMc and not the GC. The AIA documents are correct. AIA contracts and forms are consensual documents that reflect the advice of architects, contractors, engineers and owners, warranty bond manufacturers, insurers and lawyers.
AIA documents are in the best interests of all parties, so that no interest, even that of the architect, is unfairly represented. So what can an owner do to ensure that their interests are properly protected? When an AIA form is submitted to an owner and decides to use it, these forms must be amended to create a level playing field. A better solution, however, is for an owner to use his or her own manuscript contract. Manuscript agreements allow owners to avoid rising negotiations and can be tailored to the specific needs and circumstances of the owner. Anderson Kill – Olick has lawyers with extensive experience in AIA construction contracts and manuscripts. AIA Contract Documents are the nearly 200 forms and contracts that define the relationships and conditions associated with design and construction projects. Prepared by the AIA under the consensus of owners, contractors, lawyers, architects, engineers and others, the documents have been finely voted on during its 132-year history.