We represented a real estate developer and property owner to negotiate AIA Document A101-2017, Agreement Between Owner and Contractor where the basis of payment is a Stipulated Sum, for a $1.8 million swim facility tenant build-out, a project made complex by stringent public health regulatory rules and requirements. The agreement included provisions for liquidated damages in the event of delays and a bonus for early completion reflecting the criticality of timely project delivery for our client, which needed to turn over the facility to its tenant by a date certain.
