A101- 2017 Standard Form of Agreement Between Owner and Contractor where the basis of payment is a Stipulated Sum
AIA Document A101™–2017 is a standard form of agreement between owner and contractor for use where the basis of payment is a stipulated sum (fixed price). A101 adopts by reference, and is designed for use with, AIA Document A201™–2017, General Conditions of the Contract for Construction. In addition, A101 is drafted to be used in conjunction with the A101™–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. A101 is suitable for large or complex projects. For projects of a more limited scope, use of AIA Document A104™–2017, Agreement Between Owner and Contractor for a Project of Limited Scope, should be considered. For even smaller projects, consider AIA Document A105™–2017, Agreement Between Owner and Contractor for a Residential or Small Commercial Project.
When to use:
- Stipulated sum (fixed price) payment
- Used in conjunction with A201, General Condition