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The owner, often referred to as the 'employer' or the 'client', [1] has full authority to decide what type of contract should be used for a specific development to be constructed and to set out the legally-binding terms and conditions in a contractual agreement. [2]
The contractor is bound by the contract to complete a list of contract items, called a punch list, in order to receive final payment from the owner. The designer (typically a licensed professional architect or engineer ) is usually also incorporated into the contract as the owner's design representative and agent , to verify that completed ...
"AIA Document C191™–2009 is a standard form multi-party agreement through which the owner, architect, contractor [etc] execute a single agreement for the design, construction and commissioning of a project." [14] The American Institute of Architects (AIA) provides a list of Integrated Project Delivery system distributors. [15]
See the executed contract agreement for additional language regarding the Schedule of Values. Each Project/Job shall have a separate Schedule of Values. If multiple Projects/Jobs are included in one contract, then the Contractor/Vendor must create a separate Schedule of Values which clearly segregates costs among each Job for billing, reporting ...
AIA also entered into an exclusive 20-year bancassurance agreement with NDB, one of Sri Lanka's largest financial conglomerates with a nationwide bank branch network. [9] On 7 October 2012, AIA acquired ING Group's Malaysian insurance subsidiaries for a cash consideration of €1.336 billion (US$1.73 billion). [10]
On contractor-led design–build projects, management is structured so that the owner works directly with a contractor who, in turn, coordinates subcontractors. Architects contribute to contractor-led design–build projects in one of several ways, with varying degrees of responsibility (where "A/E" in each diagram represents the architect ...
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