subcontractor jointly, to name as such arbitrator the person upon whom they agree. The Contractor and the Subcontractor agree that— (0) In the matter of arbitration, their rights and obligations and all procedure shall be analogous to those set forth in Article 45 of the General Conditions. Nothing in this Article shall create any obligation on the part of the Owner to pay to or to see to the payment of any sums to any Subcontractor. Art. 45. Arbitration.—Subject to the provisions of Article 10, all questions in dispute under this contract shall be submitted to arbitration at the choice of either party to the dispute. The Contractor agrees to push the work vigorously during arbitration proceedings. The demand for arbitration shall be filed in writing with the Architect, in the case of an appeal from his decision, within ten days of its receipt and in any other case within a reasonable time after cause thereof and in no case later than the time of final payment, except as to questions arising under Article 16. If the Architect fails to make a decision within a reasonable time, an appeal to arbitration may be taken as if his decision had been rendered against the party appealing. No one shall be nominated or act as an arbitrator who is in any way financially interested in this contract or in the business affairs or either the Owner, Contractor or Architect. The general procedure shall conform to the laws of the State in which the work is to be erected. Unless otherwise provided by such laws, the parties may agree upon one arbitrator; otherwise there shall be three, one named, in writing, by each party to this contract, to the other party and to the Architect, and the third chosen by these two arbitrators, or if they fail to select a third within ten days, then he shall be chosen by the presiding officer of the Bar Association nearest to the location of the work. Should the party demanding arbitration fail to name an arbitrator within ten days of his demand, his right to arbitration shall lapse. Should the other party fail to choose an arbitrator within said ten days, then such presiding officer shall appoint such arbitrator. Should either party refuse or neglect to supply the arbitrators with any papers or infor mation demanded in writing, the arbitrators are empowered by both parties to proceed ex parte. The arbitrators shall act with promptness. If there be one arbitrator his decision shall be binding; if three the decision of any two shall be binding. Such decision shall be a condition precedent to any right of legal action, and whenever permitted by law it may be filed in Court to carry it into effect. The arbitrators, if they deem that the case demands it, are authorized to award to the party whose contention is sustained such sums as they shall deem proper for the time, expense and trouble incident to the appeal and, if the appeal was taken without reasonable cause, damages for delay. The arbitrators shall fix their own compensation, unless otherwise provided by agreement, and shall assess the costs and charges of the arbitration upon either or both parties. The award of the arbitrators must be in writing and, if in writing, it shall not be open to objection on account of the form of the proceedings or the award, unless otherwise provided by the laws of the State in which the work is to be erected. In the event of such laws providing on any matter covered by this article otherwise than as hereinbefore specified, the method of procedure throughout and the legal effect of the award shall be wholly in accordance with the said State laws, it being intended hereby to lay down a principle of action to be followed, leaving its local application to be adapted to the legal requirements of the place in which the work is to be erected. THE STANDARD FORM OF BOND FOR USE IN CONNECTION WITH THE THIRD EDITION OF THE STANDARD FORM OF AGREEMENT AND GENERAL CONDITIONS OF THE CONTRACT This form has been approved by the National Associ- COPYRIGHT 1915, BY THE AMERICAN INSTITUTE OF ARCHITECTS, THE OCTAGON WASHINGTON, D. C. KNOW ALL MEN: That we.. (Here insert the name and address or legal title of the Contractor.) hereinafter called the Principal, and.... (Here insert the name and address or legal title of one or more sureties). ..and . and hereinafter called the Surety or Sureties, are held and firmly bound unto.... (Here insert the name and address or legal title of the Owner.) hereinafter called the Owner, in the sum of. for the payment whereof the Principal and the Surety or Sureties bind themselves, their heirs, executors, administrators, successors and assigns, jointly and severally, firmly, by these presents. Whereas, the Principal has, by means of a written Agreement, dated. Owner for. entered into a contract with the a copy of which Agreement is by reference made a part hereof; Now, Therefore, the Condition of this Obligation is such that if the Principal shall faithfully perform the Contract on his part, and satisfy all claims and demands, incurred for the same, and shall fully indemnify and save harmless the Owner from all cost and damage which he may suffer by reason of failure so to do, and shall fully reimburse and repay the Owner all outlay and expense which the Owner may incur in making good any such default, and shall pay all persons who have contracts directly with the Principal for labor or materials, then this obligation shall be null and void; otherwise it shall remain in full force and effect. Provided, however, that no suit, action or proceeding by reason of any default whatever shall be brought on this Bond after . months from the day on which the final payment under the Contract falls due. And Provided, that any alterations which may be made in the terms of the Contract, or in the work to be done under it, or the giving by the Owner of any extension of time for the performance of the Contract, or any other forbearance on the part of either the Owner or the Principal to the other shall not in any way release the Principal and the Surety or Sureties, or either or any of them, their heirs, executors, administrators, successors or assigns from their liability hereunder, notice to the Surety or Sureties of any such alteration, extension or forbearance being hereby waived. Signed and Sealed this... 19.... In Presence of day of.... FOR USE IN CONNECTION WITH THE THIRD EDITION OF THE STANDARD FORM OF This form has been approved by the National Associ- COPYRIGHT 1915 BY THE AMERICAN INSTITUTE OF ARCHITECTS, THE OCTAGON, WASHINGTON, D. C. THIS AGREEMENT, made this 19.... by and between inafter called the Subcontractor and hereinafter called the Contractor. day of here WITNESSETH, That the Subcontractor and Contractor for the considerations hereinafter named agree as follows: Section 1. The Subcontractor agrees to furnish all material and perform all work as described in Section 2 hereof for . . . . . (Here name the kind of building.) for... (Here insert the name of the Owner.) hereinafter called the Owner, at. (Here insert the location of the work.) in accordance with the General Conditions of the Contract between the Owner and the Contractor, and in accordance with the Drawings and the Specifications prepared by. hereinafter called the Architect, all of which General Conditions, Drawings and Specifications signed by the parties thereto or identified by the Architect, form a part of a Contract between the Contractor and the Owner dated 19.., and hereby become a part of this Contract. Section 2. The Subcontractor and the Contractor agree that the materials to be furnished and work to be done by the Subcontractor are (Here insert a precise description of the work, preferably by reference to the numbers of the Drawings and the pages of the Specifications.) Section 3. The Subcontractor agrees to complete the several portions and the whole of the work herein sublet by the time or times following: (Here insert the date or dates and if there be liquidated damages state them.) Section 4. The Contractor agrees to pay the Subcontractor for the performance of his work the sum of in current funds, subject to additions and deductions for changes as may be agreed upon, and to make payments on account thereof in accordance with Section 5 hereof. |