ISSUED BY THE AMERICAN INSTITUTE OF ARCHITECTS FOR USE WHEN A STIPULATED SUM FORMS THE BASIS OF PAYMENT

The Standard Documents have received the approval of the National Association of Builders' Exchanges, the National Association of Master Plumbers, the National Association of Sheet Metal Contractors of the United States, the National Electrical Contractors' Association of the United States, the National Association of Marble Dealers, the Building Granite Quarries Association, the Building Trades Employers Association of the City of New York, and the Heating and Piping Contractors National Association.

THIRD EDITION, COPYRIGHT 1915-1918 BY THE AMERICAN INSTITUTE OF ARCHITECTS, THE OCTAGON, WASHINGTON, D. C. THIS FORM IS.TO BE USED ONLY WITH THE STANDARD GENERAL CONDITIONS OF THE CONTRACT

This Agreement made the............................

day of........................in the year Nineteen Hundred and..................by and between...............

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hereinafter called the Contractor, and......................

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............................hereinafter called the Owner,

Witnesseth, that the Contractor and the Owner for the considerations hereinafter named agree as follows: Article 1. The Contractor agrees to provide all the materials and to perform all the work shown on the Drawings and described in the Specifications entitled....................

(Here insert the caption descriptive of the work as used in the Proposal, General Conditions, Specifications, and upon the Drawings,)

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prepared by................................................ .......

acting as, and in these Contract Documents entitled the Architect, and to do everything required by the General Conditions of the Contract, the Specifications and the Drawings.

Article 2. The Contractor agrees that the work under this Contract shall be substantially completed..................

(Here insert the date or dates of completion, and stipulations as to liquidated damages, if any).

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Article S. The Owner agrees to pay the Contractor in current funds for the performance of the Contract

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subject to additions and deductions as provided in the General Conditions of the Contract and to make payments on account thereof as provided therein, as follows: On or about the........

day of each month....................per cent of the value proportionate to the amount of the Contract, of labor and materials incorporated in the work.......................

..........................up to the first day of that month as estimated by the Architect, less the aggregate of previous payments. On substantial completion of the entire work, a sum sufficient to increase the total payments to............

per cent of the contract price, and..........days thereafter, provided the work be fully completed and the Contract fully performed, the balance due under the Contract.

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Article 4. The Contractor and the Owner agree that the General Conditions of the Contract, the Specifications and the Drawings, together with this Agreement, form the Contract, and that they are as fully a part of the Contract, as if hereto attached or herein repeated; and that the following is an exact enumeration of the Specifications and Drawings:

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The Contractor and the Owner for themselves, their successors, executors, administrators and assigns, hereby agree to the full performance of the covenants herein contained.

In Witness Whereof they have executed this agreement, the day and year first above written.

These comments of the Institute are printed as published without comment by the author.

The use of a seal or of the word "seal" with the name of an individual or firm can do no harm, but since the only significance of a seal as used in ordinary contracts is to imply a consideration, and since all of the Institute's forms of agreement recite considerations, the use of a seal, except in the case of a corporation, is quite unnecessary. A bond, however, by its very nature must be under seal.