Exercise # 2-Organization. Organize contract provisions in a logical fashion. Cr

Question

Exercise # 2-Organization. Organize contract provisions in a logical fashion. Create nu headings and subheadings and list the # ofeach provision that go under these headings and subheading. This will be a tri-n construction contract between an Owner, a Contractor Architect. The following merely indicates the topic of the pro not necessarily its full and final wording. these specifie numbered and titled "party and an rovision Contractor will build the structure according to the attached plans and specifications. #1 #2 At the completion of construction, Architect will inspect the work within 24 hours following notification of completion by the Contractor. #3 Ow ner will pay $1,500 upon the beginning of construc- tion.

Explanation / Answer

The mentioned contract provisions can be classified into the following key categories:

a. Standard of Performance: #1, #4, #18

b. Quality: #21

c. Performance & Indemnity Bond: #7

d. Insurance: #13

e. Working Hours: #16

f. Compensation to employees:

i. Applicable Law: #20

g. Hiring of Subcontractors: #17

h. Payment to Subcontractors: #12

2. Obligations of the Architect

a. Inspection           #2

b. Verification of Works     #5

c. Fairness and Good Faith: #9

d. Reporting: #15

3. Obligations of the Owner

a. Assistance: #6, #10

b. Indemnification: #14

4. Payment Terms

a. Initial Payment: #3

b. Payment upon Completion: #8

5. Fairness & Good Faith

a. Good Faith: #22

6. Settlement of Disputes:

a. Dispute Resolution: #19

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