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This document is an Abbreviated Standard Form of Agreement between an Owner and a Contractor for construction projects with a stipulated sum payment basis. It outlines the responsibilities of both parties, including the execution of work, payment terms, and conditions for termination or suspension of the contract. Key articles detail the contract documents, work scope, payment schedule, and miscellaneous provisions.

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5 views3 pages

Document: Print Your Company Name Here

This document is an Abbreviated Standard Form of Agreement between an Owner and a Contractor for construction projects with a stipulated sum payment basis. It outlines the responsibilities of both parties, including the execution of work, payment terms, and conditions for termination or suspension of the contract. Key articles detail the contract documents, work scope, payment schedule, and miscellaneous provisions.

Uploaded by

adams ibrahim
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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Print your Company Name Here

Document 107
Abbreviated Standard Form of Agreement Between Owner and Contractor
for Construction Projects of a Limited Scope
where the basis of payment is a STIPULATED SUM
AGREEMENT made as of the day of
in the year
(In words, indicate day, month and year)

BETWEEN the Owner:


(Name, address and other information)

and the Contractor


(Name, address and other information)

the Project is:


(Name and location)

the Architect is:


(Name, address and other information)

The Owner and the Contractor agree as follows.


ARTICLE 1 THE CONTRACT DOCUMENTS
The Contract Documents consist of the Agreement, Conditions of the Contract, Drawings, Specifications, Addenda issued
prior to execution of this Agreement. A list of the Contract Documents, appears in Article 8.

ARTICLE 2 THE WORK OF THIS CONTRACT


The Contractorwill be responsible for fully executing the Work described in the Contract Documents. The Contractor
shall beresponsible for all employees, Subcontractors, Materialmen, and equipment Suppliers for all Work related
to this Project. The Contractor shall provide all material unless specifically outlined in this Contract.

ARTICLE 3 DATE OF COMMENCEMENT AND SUBSTANTIAL COMPLETION


3.1 The date of commencement of the Work shall be the date of this Agreement unless a different date is stated
below or provision is made for the date to be fixed in a notice to proceed issued by the Owner. The Project will
be Substantially Complete in days.

ARTICLE 4 CONTRACT SUM


4.1 The Owner shall pay the Contractor the Contract Sum in current funds for the Contractor's performance of the
Contract. The Contract Sum shall be ($ )
dollars.

ARTICLE 5 PAYMENTS
5.1 PROGRESS PAYMENTS
Based upon Applications for Payment submitted to the Architect by the Contractor and Certificates for
Payment issued by the Architect,
Architect the Owner shall make progress payments on account of the Contract Sum to the
Contractor at least once a month, and at the end of the month..

ARTICLE 6 TERMINATION OR SUSPENSION


6.1 The Contractor may be terminated by the Owner if the Contractor fails to carry out the work in accordance with
the Contract Documents, or is causing excessive delays, or is using Subcontractors not properly licensed, or is
maintaining an unsafe Construction site by not obeying OSHA Rules and Regulations, or is not paying
Subcontractors in a timely manner.

ARTICLE 7 MISCELLANEOUS PROVISIONS


7.1 The Contractor shall pay for all permits. Contractor shall not be responsible for any delay due to circumstances
beyound its control including strikes, casualty or unavailability of material.

ARTICLE 8 ENUMERATION OF CONTRACT DOCUMENTS

THE SPECIFICATIONS ARE


Document Title Pages

2
THE DRAWINGS ARE:
Document Title Pages

_______________________________________________________________________________________________________

OWNER (Signature) CONTRACTOR (Signature)

(Printed name and title) (Printed name and title)

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