Construction Contract Terms
Construction contract terms define the commercial and legal framework for the project. They matter most when scope, money, time, responsibility, or risk is being discussed.
Search intent
Use this page when reviewing agreements, general conditions, payment clauses, change provisions, or project delivery responsibilities.
Common use cases
- Reading AIA documents
- Reviewing change orders
- Understanding payment requirements
- Evaluating contract risk
Terms in this collection
15 linked definitions.
| Term | Meaning |
|---|---|
| A101 Standard Form of Agreement Between Owner and Contractor | A101 is an AIA owner-contractor agreement form often used when the contract sum is a stipulated amount. |
| A133 Owner-Construction Manager Agreement | A133 is an AIA agreement form used for certain owner and construction manager at risk arrangements. |
| A201 General Conditions of the Contract for Construction | A201 is an AIA general conditions document that defines many baseline rights, responsibilities, and procedures for construction contracts. |
| B101 Owner-Architect Agreement | B101 is an AIA agreement form for owner and architect services. |
| GMP Guaranteed Maximum Price | A GMP is a contract amount that sets the maximum price an owner should pay for the defined construction scope, subject to approved changes. |
| General Conditions | General conditions are contract provisions that define baseline rights, responsibilities, procedures, and relationships for the project. |
| Change Order | A change order is a signed contract modification that changes scope, cost, time, or other contract terms. |
| Liquidated Damages | Liquidated damages are a contractually stated amount owed for certain delays or failures to meet agreed requirements. |
| Retainage | Retainage is a portion of payment withheld until work reaches agreed completion milestones. |
| Lien Waiver | A lien waiver is a document that waives or releases lien rights for payment received or expected. |
| Mechanic's Lien | A mechanic's lien is a legal claim against property for unpaid labor, materials, or construction services. |
| Cost Plus Contract | A cost plus contract reimburses allowable project costs plus an agreed fee or markup. |
| Open Book | Open book means the contractor shares cost information, backup, and pricing details with the owner or project team. |
| Substantial Completion | Substantial completion is the point when the project is sufficiently complete for the owner to use it for its intended purpose. |
| Final Completion | Final completion is the point when all contract work, closeout documents, and remaining obligations are complete. |
Related collections
Construction Change Management TermsTerms used to identify, price, direct, approve, and record construction changes.Construction Payment TermsBilling, retainage, lien, invoice, schedule of values, and job cost terms used in construction payment workflows.Project Delivery TermsDelivery method, team structure, preconstruction, risk allocation, and contract strategy terms.