Construction Contract Documents and Project Management

What Is the Industry Standard Contract?

While various industry groups have developed their own versions of standard contracts, there is no universally accepted form of construction contract. The American Institute of Architects actively promotes its form contract documents. These documents are commonly known as “AIA documents,” and are denoted by various numbered and dated versions. These different versions are geared toward different construction situations. They include fixed price contracts, “cost plus” contracts, those that are relatively small and simple, and contracts that are multi-phased and extremely complex. These form documents have been in use by the construction industry in various revised versions since 1915. Most contractors and architects are familiar with the AIA form documents to some degree. However, an owner should not rely on the architect or contractor alone to interpret the contract. Even architects sometimes assume that similar provisions are the same in all AIA documents, when in fact, the provisions may have been changed in a newer version or by the contractor and owner. Modification of these and any form contract document is certainly not unusual, and often may be necessary in order to meet financing or other project-specific requirements.