Summary: G707™–1994, Consent of Surety to Final Payment

 G707™–1994, Consent of Surety to Final Payment

Content.

Synopsis

Purpose

Related documents

Changes from the previous edition

 

Synopsis.

AIA Document G707–1994 is intended for use as a companion to AIA Document G706™–1994, Contractor’s Affidavit of Payment of Debts and Claims, on construction projects where the contractor is required to furnish a bond. By obtaining the surety’s approval of final payment to the contractor and its agreement that final payment will not relieve the surety of any of its obligations, the owner may preserve its rights under the bond. For use and execution of a document, see its instructions  »

 

Purpose. 

AIA Document G707™ is intended for use as a companion to AIA Document G706™, Contractor’s Affidavit of Payment of Debts and Claims, on construction projects where the Contractor is required to furnish a bond. By obtaining the Surety’s approval of final payment to the Contractor and its agreement that final payment will not relieve the Surety of any of its obligations, the Owner may preserve its rights under the bond. 

 

This document may be used with most of the AIA’s Owner-Contractor agreements and general conditions, such as A201 and its related family of documents. As noted above, this is a companion document to AIA Document G706

 

Changes from the previous edition. 

Changes in the location of various items of information were made, without revision to the substance of the document.

 

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