AIA Contract Documents Expire October, 2018
The American Institute of Architects’ (AIA) contract documents – the most used in building construction projects – are revised and released every 10 years, with the most recent edition coming out in April of 2017. Documents include the principal owner-architect agreements, owner-contractor agreements, and the general conditions document. The deadline for using the new AIA contract documents is October, 2018.
One of the most significant changes to the 2017 documents focuses on insurance and addressing design and construction risk. In fact, AIA has introduced a new insurance exhibit (AIA Document A201-2017) prompting parties to explore insurance as a risk management strategy. This document provides a menu of options for insurance coverage. If the project implicates these risks, the parties are required to identify the limits for the applicable insurance that is addressing the particular risks at issue.
We encourage you to make yourself aware of the changes, understand the implications, and be prepared to comply with them, and we can help. The M3 team is available and prepared to review Doc A201-2017 prior to executing your contract. Be sure to include Article 11 of the document, as the items contained therein are of critical importance.
Please contact your M3 Account Executive to learn more.