What is the basis for progress payments under A201?

Prepare for the AIA Contract Document A201 with engaging flashcards and multiple-choice questions. Understand contract fundamentals and get ready to excel in your exam with detailed hints and explanations.

Multiple Choice

What is the basis for progress payments under A201?

Explanation:
Progress payments under A201 are based on the value of the work actually completed, as laid out in the Schedule of Values, with the Architect certifying the amount due. The contractor prepares a Schedule of Values that breaks the contract price into components, the Architect reviews and certifies how much of each component is completed, and payments are made on that certified amount (minus previous payments and any retention). This mechanism ensures payments track progress rather than being automatic or tied to owner approvals of every change, and they occur before project completion.

Progress payments under A201 are based on the value of the work actually completed, as laid out in the Schedule of Values, with the Architect certifying the amount due. The contractor prepares a Schedule of Values that breaks the contract price into components, the Architect reviews and certifies how much of each component is completed, and payments are made on that certified amount (minus previous payments and any retention). This mechanism ensures payments track progress rather than being automatic or tied to owner approvals of every change, and they occur before project completion.

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