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TM Document A101 2017 Standard Form of Agreement Between Owner and Contractor where the basis of payment is a Stipulated Sum AGREEMENT made as of the day of in the year 2017 (In words, indicate day,
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okay were gonna do a quick discussion of the a 101 so here were talking about the all I did here was talk about the insurance exhibit this is just so which one one just reminder is the owner contractor agreeing correct and so the actually the a 101 as a document they changed a lot of the definitional terms that weve already talked about this far they had a little bit more disturbed description of how a pay application and invoicing process is going to be but what weve covered in the B 101 and the a 201 are by and large what were the structural changes of the main agreement this is talking about this the exhibit that said insurance exhibit our reference is actually an exhibit to the a 101 and so what it what it has what that insurance exhibit has is here is is it distinguishes between the required and optional insurance so every contractor must have commercial general liability and auto and workers comp and then heres this laundry list as I say theres check the box your grocery list of the type of insurance that also could be carried if youre working near the water you need the Jones Act if youre gonna have something dealing like I did a project that was over railways you need railway insurance and so it has a discussion for that so the basic thing is is that theres a set of very specific things that everybodys gonna have to have thats the require some requirements and then for all the myriad other possibilities there are specific other elements and thats when youre checking those other box right yeah and it works as this module we attach this modular exhibit its much more flexible for the parties but it also gets them on the same page because its again having that conversation yeah yeah I mean I dont know how many times Ive had a discussion with a client where everybodys moving along and I and I look at it like has anybody gone to your broker because the owners off and say well well take care of it where they carry and Ill have to come back and say have you gone to your broker because you know your building next to a railroad tracks you have railroad liability oh I didnt know I needed that so now its in the document so they can actually see it I have to say I would not have known I would needed that thats a thats a great example yeah so theres things about it and then here the section a - if you get in this exhibit talks about the owners insurance requirements because sure the owner needs to carry insurance property insurance and these are and different examples and so thats what the owners going to carry thats section a two of the exhibit a one is the contractor and a two is the owner yeah and remember its a its an agreement between the two and theres gonna be requirements for the owner whos get requirements for the contractor yeah and then through their kind of referencing in the a to uh no have requirements for the architect as well even though its this relationship between the owner and current contract correct and then as I said a one but...