March 26, 2026
AIA A133-2019 is a Contract published by AIA Contract Docs and provides a Standard Form of Agreement Between Owner and Construction Manager as Constructor
AIA A201, also known as the "General Conditions of the Contract for Construction," is a standard document published by the American Institute of Architects (AIA).
AIA Contracts refer to the standardized contract documents developed by the American Institute of Architects (AIA).
AIA G703, known as the "Continuation Sheet," is used alongside the AIA G702 Application and Certificate for Payment.
AS/NZS 3000 is an electrical wiring standard that sets out the requirements for the design, construction, and verification of electrical installations.
A formal proposal to alter a specific aspect of a project
Contract Amount refers to the total agreed-upon sum payable under the terms of a construction contract and is usually broken down with a Schedule of Values.
A contract variation is any agreed change to the terms of a contract after it has been signed. This could involve adjustments to scope, cost, time, or other provisions.
A Fixed Price, also known as a lump sum, is a predetermined, set amount agreed upon for the completion of a project or delivery of goods and services.
Fixed-Price Building Contract is a construction contract where the total payment is agreed upon in advance and remains fixed, regardless of the actual time, labor, or resources used by the contractor.
AIA G702, also known as the "Application and Certificate for Payment," is a standard document published by the American Institute of Architects (AIA).
What are general conditions in a construction contract?
A Guaranteed Maximum Price (GMP) construction contract is an agreement where the contractor is compensated for actual costs incurred up to a ceiling price, the guaranteed maximum price
A GMP Contract, or Guaranteed Maximum Price Contract, is a type of construction agreement where the contractor agrees to complete the project for a price that will not exceed a specified maximum amount.
Inclement Weather refers to severe or unfavorable weather conditions that can negatively impact construction activities and project timelines
A Lien Waiver is a legal document that relinquishes a contractor's, subcontractor's, or supplier's right to file a lien against a property upon receiving payment.
A Lien Waiver Form is a document used in the construction industry to waive a party's right to file a lien against a property upon receiving payment.
Liquidated Damages are a predetermined amount of money that a contractor must pay to the Capital Project's owner as compensation for failing to complete the project on time.
Lump Sum refers to a fixed price contractual agreement commonly used in the construction industry
A Lump Sum Payment is a single complete payment made at one time for a particular service or product, instead of a series of payments over time.
A Notice of Commencement is a legal document that announces a project's official start date and records key details for compliance and lien timelines.
A Notice of Delay informs stakeholders of a project delay, its cause, impact, and potential costs. It鈥檚 required for claiming time extensions or expenses and ensures contract compliance.
Payment terms in Australia define when and how payments are made, ensuring cash flow, compliance, and timely contractor payments under contract conditions and schedules.
A post-contract variation is a legally binding change to a construction contract made after signing. It allows adjustments to project scope, materials, or terms without needing a new contract.
An initial notice that a change may be required in a construction project.
A prime contract is a main agreement between a project owner and a contractor, covering work scope, costs, timelines, and responsibilities in a construction project.
Under a construction contract, the Principal often refers to the party who commissions and financially sponsors the construction project.
A project owner sets the vision, secures funding, defines scope, and stays accountable for a project's success from start to finish across all phases.
Prolongation extends a project due to delays, causing added costs like overheads or rentals, managed via contract clauses for fairness and dispute prevention.
Standard Form Contract is a pre-drafted agreement that outlines a set of general terms and conditions for construction projects
Substantial Completion means the building is usable. Practical Completion means it鈥檚 ready for full use.
Cost per individual unit of measure for goods or services
A Variation Order is a formal contract amendment in construction that authorizes changes to scope, materials, cost, or timeline.
A variation request is a formal document submitted by any party involved to request changes to the original contract terms.
An addendum is a document that modifies a contract without changing its original terms. It clarifies details, adds conditions, or updates agreements between parties.
