A103- 2017 Standard Form of Agreement Between Owner and Contractor where the basis of payment is the Cost of the Work Plus a Fee without a Guaranteed Maximum Price
AIA Document A103™–2017 is appropriate for use on large projects when the basis of payment to the contractor is the cost of the work plus a fee, and the cost is not fully known at the commencement of construction.
AIA Document A103–2017 is not intended for use in competitive bidding.
AIA Document A103–2017 adopts by reference and is intended for use with AIA Document A201™–2017, General Conditions of the Contract for Construction.
In addition, A103 is drafted to be used in conjunction with the A103™–2017, Exhibit A, Insurance and Bonds. This insurance and bonds exhibit is a critical part of the owner/contractor agreement and should be discussed with legal and insurance counsel.
WHEN TO USE
- Large project
- Cost-Plus without Guaranteed Maximum Price (GMP)
- Used in conjunction with A201, General Conditions