Surety Bond Quarterly - Summer 2017 - 26

changes and are instead intended to
encourage the parties to be specific
about the agreed upon date for commencement of the work, the date for
substantial completion of the entire
work, and the date or dates for substantial completion of portions of the
work, when applicable.
Liquidated Damages Fill Point
Liquidated damages provisions,
establishing an amount certain
in terms of contractor liability for

project delay, are often included in
agreements to avoid disputes over
the specific damages an owner might
incur by reason of late completion
of a project. In 2017, a specific fill
point has been included in the ownercontractor agreements (except A105)
to prompt the parties to consider
including a liquidated damages provision. The details surrounding the
imposition of those damages, the calculation of those damages, and the
limitation, if any, on those damages

experience direction

3100 CLIENTS
What's driving you? Improved profitability? Long-term success?
BKD helps approximately 3,100 construction and real estate
clients plan for growth, resolve operational issues and achieve
their goals. Experience how our expertise can help you forge
ahead with certainty.

Kenneth W. Cobleigh, Esq. serves as
a Managing Director and Counsel at
the American Institute of Architects.
He works with a team of lawyers,
specialists and support staff, and
the AIA Documents Committee,
in developing and publishing AIA
Contract Documents, and in providing support services to contract
document users. Prior to joining the
AIA, Ken practiced for 18 years as a
construction attorney in private practice Maryland law firms. He can be
reached at kcobleigh@aia.org.

Tim Wilson // twilson@bkd.com
816.221.6300 // bkd.com

26

BOND QUARTERLY | SUMMER 2017

Choice of Law Rules
The AIA Contract Documents have
long provided that the contract is governed by the law of the place where
the project is located. However, in
some circumstances, a jurisdiction's
choice of law rules may require that
the law of another jurisdiction be
applied in interpreting the contract
or resolving contract-related issues.
The 2017 owner-contractor and
owner-architect agreements continue to provide that the contract
will be governed by the law of the
place where the project is located,
but added a provision that the jurisdiction's choice of law rules will not
be applicable to impose the laws of
a different jurisdiction.
More Information on Changes
There are a number of other 2017 revisions of interest to industry stakeholders. As in the past, the AIA will
publish comparatives for all of the
revised documents, showing the
changes in text between 2007 and
2017. The AIA will also post FAQs,
articles, and other written materials and will hold webinars and other
programs to help industry participants become familiar with the 2017
Documents. To access these materials visit www.aiacontracts.org/
2017aiadocs.
●

A National CPA & Advisory Firm

SURETY
855648_BKD.indd
1

are left up to the parties to negotiate and include in the fill point. A
separate fill point is also included
in those documents in the event the
parties agree to include bonus or
other incentive provisions.

03/02/17 4:48 pm


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Table of Contents for the Digital Edition of Surety Bond Quarterly - Summer 2017

NASBP Upcoming Meetings & Events
2017–2018 Executive Committee
From the CEO: Bringing Summer Heat: A Rundown of “Hot” Stuff in the Evolving World Surrounding Surety
Howard Cowan—Building on a Solid Foundation
Mitigating the Hidden Risks in the “New Normal” Construction Environment
Acting Director of the U.S. SBA Office of Surety Guarantees
Drones Take Flight in the Construction Industry
2017 AIA Contract Documents: Selected Key Changes
NASBP to Release Continuing Education Course: Joint Ventures in Construction
How Can Construction Contractors Expedite Payment on Federal Contracts?
Insurtech for Surety: The Future Is Closer than You Think!
Index to Advertisers
Surety Bond Quarterly - Summer 2017 - Intro
Surety Bond Quarterly - Summer 2017 - cover1
Surety Bond Quarterly - Summer 2017 - cover2
Surety Bond Quarterly - Summer 2017 - 3
Surety Bond Quarterly - Summer 2017 - 4
Surety Bond Quarterly - Summer 2017 - 5
Surety Bond Quarterly - Summer 2017 - 6
Surety Bond Quarterly - Summer 2017 - 2017–2018 Executive Committee
Surety Bond Quarterly - Summer 2017 - 8
Surety Bond Quarterly - Summer 2017 - From the CEO: Bringing Summer Heat: A Rundown of “Hot” Stuff in the Evolving World Surrounding Surety
Surety Bond Quarterly - Summer 2017 - Howard Cowan—Building on a Solid Foundation
Surety Bond Quarterly - Summer 2017 - 11
Surety Bond Quarterly - Summer 2017 - Mitigating the Hidden Risks in the “New Normal” Construction Environment
Surety Bond Quarterly - Summer 2017 - 13
Surety Bond Quarterly - Summer 2017 - 14
Surety Bond Quarterly - Summer 2017 - 15
Surety Bond Quarterly - Summer 2017 - 16
Surety Bond Quarterly - Summer 2017 - 17
Surety Bond Quarterly - Summer 2017 - 18
Surety Bond Quarterly - Summer 2017 - 19
Surety Bond Quarterly - Summer 2017 - Acting Director of the U.S. SBA Office of Surety Guarantees
Surety Bond Quarterly - Summer 2017 - 21
Surety Bond Quarterly - Summer 2017 - Drones Take Flight in the Construction Industry
Surety Bond Quarterly - Summer 2017 - 23
Surety Bond Quarterly - Summer 2017 - 2017 AIA Contract Documents: Selected Key Changes
Surety Bond Quarterly - Summer 2017 - 25
Surety Bond Quarterly - Summer 2017 - 26
Surety Bond Quarterly - Summer 2017 - NASBP to Release Continuing Education Course: Joint Ventures in Construction
Surety Bond Quarterly - Summer 2017 - How Can Construction Contractors Expedite Payment on Federal Contracts?
Surety Bond Quarterly - Summer 2017 - 29
Surety Bond Quarterly - Summer 2017 - 30
Surety Bond Quarterly - Summer 2017 - 31
Surety Bond Quarterly - Summer 2017 - Insurtech for Surety: The Future Is Closer than You Think!
Surety Bond Quarterly - Summer 2017 - 33
Surety Bond Quarterly - Summer 2017 - Index to Advertisers
Surety Bond Quarterly - Summer 2017 - cover3
Surety Bond Quarterly - Summer 2017 - cover4
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