New AIA Insurance and Bond Exhibit: Owner Financing, Subcontractor Liens, Termination Fees, Notice of Claims
Recording of a 90-minute CLE video webinar with Q&A
This CLE course will address the 2017 modifications to creating the Insurance and Bonds Exhibit of the standard AIA Construction Contract. The panel will discuss how most insurance and bond terms under the 2017 update have been relocated to a new Insurance and Bond Exhibit, which must be read in conjunction with the remaining terms of Section 11 of the agreement and how to negotiate insurance minimums and limits.
- Overview of AIA documents and the 2017 revisions
- Insurance and Bonds Exhibit
- Owner's required insurance
- Owner's optional insurance
- Contractor's required insurance
- Contractor's optional insurance
- Bond provisions
- Owner and contractor-friendly modifications to avoid COVID-19 related risks
- Final considerations
- Insurance and Bonds Exhibit
The panel will review these and other key issues:
- What are the fundamental changes to the Insurance and Bonds Exhibit in the 2017 AIA standard contracts?
- What are best practices for modifying and amending these forms?
- What modifications should owners and contractors make to address COVID-19 related risks?
- What practical drafting strategies will reduce the likelihood of disputes and offer significant advantages if disputes arise?
David M. Adelstein
Mr. Adelstein represents general contractors, subcontractors, design professionals, developers, associations,... | Read More
Mr. Adelstein represents general contractors, subcontractors, design professionals, developers, associations, suppliers, sureties, and owners in a myriad of construction matters including, without limitation, construction/design defect claims, schedule-based claims (including inefficiency, lost productivity, and acceleration claims), bid protests, payment disputes, lien and bond claims, liability and property insurance issues, and a host of other issues that affect the construction industry. He prepares and negotiates construction contracts for clients utilizing AIA, EJCDC, and AGC industry form documents, as well as contracts that are not based on an industry form document.Close
Adam E. Richards
Mr. Richards is a Board Certified Specialist in Construction Law by The Florida Bar and focuses his practice on... | Read More
Mr. Richards is a Board Certified Specialist in Construction Law by The Florida Bar and focuses his practice on construction, providing transactional, project consultation, and dispute resolution/litigation services to Florida’s construction industry, including national and international general contractors, owners/developers, associations, local builders/trades, and design professionals in the public and private sectors. Mr. Richards has dealt with a wide range of construction projects throughout the state, including hotels, courthouses, treatment plants, residential/commercial buildings including one of the tallest in the country, restaurants, a major expressway in Miami as well as other road improvements, and luxury homes.Close