This standard form of agreement between owner and contractor is appropriate for use on large projects requiring a guaranteed maximum price, when the basis of payment to the contractor is the cost of the work plus a fee. A102–2017 adopts by reference and is intended for use with AIA Document A201®–2017, General Conditions of the Contract for Construction. In addition, A102 is drafted to be used in conjunction with the A102™–2017, Exhibit A, Insurance and Bonds. This insurance and bonds exhibit is a critical part of the owner/contractor agreement and should be discussed with legal and insurance counsel.
When to use this document?
- Large project
- Guaranteed maximum price
