Three important provisions in the AIA’s Owner/Contractor agreements and performance bond are the “Change in the Work” clause, the “Differing Site Conditions” clause, and the “Surety Takeover” provision. This webinar will discuss each in detail, explain the rationale behind them, and how they are structured within AIA’s set of owner-contractor agreements. Attendees will better understand and confidently navigate these provisions. This webinar will describe the “Change in the Work” clause and the “Differing Site Conditions” clause within the owner-contractor agreements in detail so that attendees can gain a thorough understanding as to why these clauses are structured the way they are and how they are intended to operate. Lastly, the presenter will describe the “Surety Takeover” provision within the AIA’s A312™️-2010, Performance Bond and describe some common scenarios which would cause that provision to be triggered.
To learn more about the A312-2010 Performance Bond, click here.