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According to the General Conditions (AIA A201 Section 9.8.2), the Contractor prepares and submits to the architect a comprehensive list of items to be completed or corrected. This snag list, as generated by the Contractor, is known as the punch list.
The Completed-contract method is an accounting method of work-in-progress evaluation, for recording long-term contracts. GAAP allows another method of revenue recognition for long-term construction contracts, the percentage-of-completion method. With this method, revenue is recognized when the contract is fulfilled.
The American Institute of Architects (AIA) is a professional organization for architects in the United States. It is headquartered in Washington, D.C. AIA offers education, government advocacy, community redevelopment, and public outreach programs, and collaborates with other stakeholders in the design and construction industries.
Pre-construction services cover a large range of jobs and activities that need to be completed before the start of a project. These services are to help lay out the foundation for the project, this helps the success of a construction project by making progress be as smooth at possible. [1]
The AIA has acknowledged that design–build is becoming one of the main approaches to construction. In 2003, the AIA endorsed "The architect's guide to design–build services", [4] which was written to help their members acting as design–build contractors. This publication gives guidance through the different phases of the process: design ...
Retainage is a portion of the agreed upon contract price deliberately withheld until the work is complete to assure that contractor or subcontractor will satisfy its obligations and complete a construction project. [1]
Sectional completion refers to a provision within a construction contract which allows different completion dates for different sections of the works. This is common in larger projects which are completed in stages, allowing the client to take possession of the completed parts whilst construction continues on others.
"AIA Document C191™–2009 is a standard form multi-party agreement through which the owner, architect, contractor [etc] execute a single agreement for the design, construction and commissioning of a project." [14] The American Institute of Architects (AIA) provides a list of Integrated Project Delivery system distributors. [15]