AG 2003 11 17 - Laserfiche WebLink

Home Browse Search

tenth day of the same month. If an Application for Payment is received by the Architect after the application date fbced above, payment shall be made by the Owner not later than ten days after the Architect receives the Application for Payment. 5.1.4 Each Application for Payment shall be based on the most recent schedule of values submitted by the Contractor in accordance with the Contract Documents. The schedule of values shall allocate the entire Contract Sum among the various portions of the Work. The schedule of values shall be prepared in such form and supported by such data to substantiate its accuracy as the Architect may require. This schedule, unless objected to by the Architect, shall be used as a basis for reviewing the Contractor's Applications for Payment. 5.1.5 Applications for Payment shall indicate the percentage Of completion of each portion of the Work as of the end of the period covered by the Application for Payment. 5.1.6 Subject to other provisions of the Contract Documents, the amount of each progress payment shall be computed as follows: THIS DOCUMENT HA$ IMPORTANT LEGAL CONSEOUENCES. CONSULTATION WITH AN ATTORNEY IS ENCOURAGED WITH RESPECT TO ITS COMPLETION OR MODIFICATION. AUTHENTICATION OF THIS ELECTRONICALLY DRAFTED DOCUMENT MAY BE MADE BY USING DOCUMENT D401. .1 .2 Take that portion of the Contract Sum properly allocable to completed Work as determined by multiplying the percentage completion of each portion of the Work by the share of the Contract Sum allocated to that portion of the Work in the schedule of values, less retainage of five percent ( ~ %). Pending final determination of cost to the Owner of changes in the Work, amounts not in idispute shall be included as provided in Subparagraph 7.3.$ of AIA Document A~oHg97. Add that portion of the Contract Sum properly allocable to materials and equipment delivered and suitably stored at the site for subsequent incorporation in the completed construction (or, if approved in advance by the Owner, suitably stored off the site at a location agreed upon in writing), less retainage offiYe percent ( ~%); .. AIA Document A201-1997, ~eneral Conditions of the Contract for Construction, is adopted in this document by reference. Do not use with other general conditions unless this document is modified. This document has been approved and endorsed by The Associated General Contractors of Americe. .3 Subtract the aggregate of previous payments made by the Owner;, and .4 Subtract amounts, if any, for which the Architect has withheld or nullified a Certificate for Payment as provided in Paragraph 9.5 of/dA Document A~oH997. 5.1.7 shall be .1 The progress payment amount determined in accordance with Subparagraph 5a.6 further modified under the following circumstances: Add, upon Substantial Completion of the Work, a sum sufficient to increase the total payments to the full amount of the Contract Sum, less such amounts as the Architect shall determine for incomplete Work, retainage applicable to such work and unsettled claims; and (Subtnw~raph ~.&$ of/dA Document A~o~-zpp7 requires re/ease of apph'ceble retainage upon Substm~tt'd C. ompIelion of Wodc with consent o~suret~, if anZ.) .2 Add, if final completion of the Work is thereafter materially delayed through no fault of the Contractor, any additional amounts payable in accordance with Subparagraph 9ao.3 of AIA Document A~oH997. 5.1.8 Reduction or limitation of retainage, if any, shall be as follows: (flit is intended, prior to Substantial Completion of the entire Work, to reduce or limzt the retain~ge resulting from the percentages insetted in Clauses gl.~J ~nd ~.8.2 above, md this is not expl~i~ed elsewhere i~ the Contract Documents, ia#eh hem provisions lbr such reduction or h'mitaffon.) I OI997 AIAe AIA DOCUMENT A101-1997 OWNER-CONTRACTOR AGREEMENT 5.1.9 Except with the Owner's prior approval, the Contractor shall not make advance payments to suppliers for materials or equipment which have not been delivered and stored at the site. The American Institute of Architects 1735 New York Avenue, N.W. Washington, D.C. 20006-5292 O 1915, 1918, 1925, 1937, 1951, 1958, 1961, 1963, 1967, 1974, 1977, 1987, C~ 1997 by The American Institute ot Architects. Reproduction of the material herein or substantial quotation of its provisions without written permission of the AIA violates the copyright laws of the United States and. will subject the violator to legal prosecution. WARNING: Unlicensed photogopyin8 violates US copyright laws and will subject the violator to legal prosecution, This document was electronically produced with permission of the AIA and can be reproduced in accordance with your lieense without violation until the date of expiration as noted below, expiration as noted below. User Docoment: campspencercontract.aia - 10/31/2003. AIA License Number 1135568, which expires on 4/2/2004. 3