This latest 2017 edition of the AIA Contract Documents is the sixteenth edition of these documents.
Category: Capital Expenditures
Industry Watch – Alliance Arrangement Models – What are They and How Do They Work
A unique method of creating a legal entity that falls short of forming a Joint-Venture (JV) yet goes further than typical construction agreements.
Project Bank Accounts – New Project Accounting Contractor’s will Hate but Will Protect them from Insolvency!
Using PBA’s will require significant adjustments and all parties will need to rethink how they operate.
Industry Watch – PBA Accounts – What are They and Can They Solve Payment Problems in Construction?
PBA’s work like a Trust that holds funds from an Owner as payment to the general contractor.
Best Practices – Why Your Design Build Contracts Are All Wrong!
There are only certain types of suppliers who have the training and legal obligation to look after the Owner’s best interests.
Industry Watch – Construction Lobby Lays Out Plan For 2018 – What They Got Right and What They Got Wrong.
The SEC’s focus on these issues foretells of major changes for construction in the future.
Best Practices – Advanced Payments in Construction – When Should You Allow Them?
You should bear that in mind and recognize that your payment is always a form of reimbursement.
Best Practices – A Lesson on How to Use Benchmarking to Develop Accurate Project Estimates.
Unit pricing tends to rise as the scale of the project reduces.
Contracts – Cooperative Agreements – How Cooperative Agreements Save Time and Money.
When your buying power is limited, joining forces with another organization may represent a win for all parties.
Best Practices – An Open Discussion About an Architect’s Liability. What is a Rip and Tear Clause?
Rip and Tear clauses establish the Architect’s liability to pay for costs that the Owner may incur.
Case Study – A Hotel That Costs too Much!? – Architect Pays Developer For Expensive Design.
The court found that Foster failed to “identify requirements and possible constraints” and “confirm key requirements and constraints”.
Procurement Corruption – Atlanta’s CPO Pleads Guilty of Conspiracy – How to Prevent Suppliers from Thinking You are Corruptible.
If you have influence over contract awards, you must hold yourself to the highest ethical standards.