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PEM101(Owner and Contractor Stipulated Sum)(08/07/17)(FINAL).pages

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The document outlines the contractual agreement between Webb County (the Owner) and Hydroworks, Inc. (the Contractor) for the construction of the Webb County Fire Station #3 Los Botines, covering contract terms, payment structure, responsibilities of both parties, and procedures for changes, disputes, and completion. It specifies that the Architect has no direct contractual relationship with the Owner but will provide plans and oversee certain aspects of the project. Key articles include provisions on work execution, payment schedules, dispute resolution methods, insurance requirements, and conditions for termination or suspension of the contract.

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Click ‘Get Form’ to open the PEM101 document in our platform.
Begin by entering the 'Date of Contract Agreement' in the designated field. Ensure you input the correct date format.
Fill in the 'Owner' section with the name and address of Webb County, ensuring all details are accurate.
Complete the 'Contractor' section with Hydroworks, Inc.'s information, including their address.
In the 'Project' section, specify 'Webb County Fire Station #3 Los Botines, Phase I and Phase II'.
Proceed to fill out each article listed in the table of contents, such as 'THE WORK OF THIS CONTRACT', ensuring clarity and accuracy in your entries.
Review all sections for completeness before saving your changes. Utilize our editor's features to highlight any areas needing attention.

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What are the four types of construction contracts?

Lump sum contracts encourage clear communication and planning, as all project details are typically specified upfront. Disadvantages include increased documentation, potential quality risks, and longer preparation time for finalized project designs.

What is a stipulated sum construction contract?

A stipulated sum contract, also called a lump sum or fixed price contract, is the most basic form of agreement between a contractor and owner. This contract should be used if the scope and schedule of the project are appropriately defined to allow the contractor to fully estimate project costs.

What is the AIA document A201 2017?

AIA Document A2012017, General Conditions of the Contract for Construction, is considered the keystone document of the Conventional family of documents because it provides the terms and conditions under which the Owner, Contractor, and Architect will work together during the building construction process.

What is the difference between AIA A101 and A201?

A201 will also say that the architect needs to review the pay app, and what happens once the architect reviews it, including issuance of a certificate for payment and finally owner payment. The A101, by contrast, will go into details about the contract sum amount and the period of performance covered by each pay app.

What is a stipulated sum in construction?

Receiving a lump sum payment is not necessarily risky. However, if you receive it as physical cash, security may be an issue. It may also be risky to deposit the lump sum in one investment option (such as a single stock), rather than diversifying your investment.

What is the standard form of agreement between owner and contractor for remodel of a single family home?

A113 is a streamlined document developed to meet the needs of residential owners and contractors for a relatively straightforward home remodeling project, such as a kitchen or bathroom remodel. The contractual and licensing requirements for construction of a single family home may vary in different jurisdictions.