What is an AIA certificate of substantial completion?
Under the AIA contract, the term “substantial completion” was defined as: “when such Work or component is sufficiently complete in accordance with the Contract Documents to permit lawful occupancy and use thereof for its intended purpose.”
Who signs the AIA G704?
the ArchitectG704-2017 was reorganized so the Architect can sign the form, and include the date of Substantial Completion, immediately after the description of the Work the Architect is certifying.
What is a certificate of substantial completion?
Substantial Completion Definition Substantial completion means the project, or a portion of the project, is fit for its intended use. The owner can then occupy and use the property. The owner must also pay the contractor the last portion of the monies owed for that project or portion of the project.
How do I finalize an AIA Document?
To finalize an offline draft:Go to the Projects tab.Click Import File.Click Choose File(s).Select your AIA document draft(s) from your computer and click Import.Click Finalize to the right of the imported draft title.More items...•
What is the difference between substantial completion and final completion?
Construction projects typically involve two different stages of completion – Substantial Completion and Final Completion. Any work that remains to be completed after the project has reached Substantial Completion is generally referred to as punch list work and its completion usually constitutes Final Completion.
What is AIA Document G703?
AIA Document G702®–1992, Application and Certificate for Payment, and G703®–1992, Continuation Sheet, provide convenient and complete forms on which the contractor can apply for payment and the architect can certify that payment is due.
Who determines substantial completion?
The parties agree on using the certificate of occupancy issued by the local jurisdiction as the substantial completion milestone date. The owner makes the determination whether the building(s) can be used for its intended purposes and/or occupied.
What does substantial mean in a contract?
Substantial performance is a contract law doctrine that allows parties to be paid under a contract and to retain the benefit of a contract even if they technically failed to comply with the precise terms of the agreement.
At what point in a project can substantial completion be granted and what is it based on?
This term has a number of meanings. In the context of: Project finance, it occurs after mechanical completion when the project satisfies certain performance requirements (for example, the project can produce the required output or perform the required service at a certain minimum level).
What is an AIA document used for?
The documents produced by The American Institute of Architects (AIA) are the most widely used standard form contracts in the construction industry. They facilitate communications among all the parties involved in construction, which makes it easier to produce a high quality project in a timely and economical fashion.
How do AIA Documents work?
AIA Contract Documents is an online document automation service that allows you to manage your project data and generate contract documents. You can access your projects and documents anytime and from anywhere using your favorite browser (Internet Explorer, Firefox, Chrome or Safari) for the PC or the Mac.
What is an AIA in construction?
The term “AIA” stands for the “American Institute of Architects.” The AIA is a professional organization of more than 90,000 architects, which creates standards for the industry. One of those standards is a set of forms contractors use for a specific style of progress billing, plus the practices around them.
Synopsis
AIA Document G704–2017 is a standard form for recording the date of substantial completion of the work or a designated portion thereof. The contractor prepares a list of items to be completed or corrected following substantial completion, and the architect verifies and amends this list.
Using G704–2017
After the first paragraph, the Architect should insert a detailed description of the Project or portion (s) of the Project that has been accepted as being substantially complete. The Architect should sign and date the form after the first paragraph to indicate that the Work identified has achieved Substantial Completion.
Executing the Document
The Owner, Architect, and Contractor should execute AIA Document G704 at their respective signature lines.
Important
Modifications. Particularly with respect to professional or contractor licensing laws, building codes, taxes, monetary and interest charges, arbitration, indemnification, format and font size, AIA Contract Documents may require modification to comply with state or local laws.
What is the G704-2017?
G704-2017 includes a revised information block to identify the Project, Contract, Owner, Architect, Contractor, and information relevant to the Certificate of Substantial Completion. G704-2017 was reorganized so the Architect can sign the form, and include the date of Substantial Completion, immediately after the description of the Work the Architect is certifying. Also, the paragraph regarding warranties was updated to clarify that warranties commence on the date of Substantial Completion unless the parties indicate otherwise in this form.
What is the purpose of the AIA document G704?
AIA Document G704™ was developed to establish the date of Substantial Completion for the purpose of commencement of applicable warranties and to allow the Owner to occupy or utilize the Work or designated portion thereof.
