Q1: Does the AIA publish a bid bond?
Yes, The American Institute of Architects publishes AIA Document A310™–2010, Bid Bond.
Q2: What are the differences between A310–1970 and A310–2010?
In addition to generally updated language, AIA Document A310™–2010 adds language allowing the
owner and contractor to extend the period of acceptance of the contractor’s bid for up to 60 days
without obtaining the surety’s consent. A310–2010 also adds language allowing subcontractors to use
A310 when a bid bond is required by the contractor.
Q3: What is AIA Document A312™–2010, Performance Bond and Payment Bond?
AIA Document A312™–2010, Performance Bond and Payment Bond, is one form that incorporates
two bonds: a performance bond covering the contractor’s performance, and a payment bond
covering the contractor’s obligations to pay subcontractors and others for material and labor.
Q4: What are the differences between A312–1984 and A312–2010?
In addition to generally updated language, among other changes, AIA Document A312™–2010,
Performance Bond, adds language clarifying that the owner’s failure to comply with the notice
requirements of Section 3.1 does not release the surety from its obligations under the bond except to
the extent the surety demonstrates actual prejudice. Additionally, A312–2010 shortens the notice
period for surety default under the bond from 15 days to seven days. Further, the limit of the surety’s
obligation to the amount of the bond does not apply if the surety elects to undertake and complete
the contract itself.
AIA Document A312™–2010, Payment Bond, also has generally updated language. In addition to other
changes, the period of time in which the surety must answer a claimant’s claim has been increased
from 45 days to 60 days, and language has been added stating that a failure of the surety to answer or
make payment in the time period specified is not a waiver of the surety’s and contractor’s defenses to
the claim, but may entitle the claimant to attorneys’ fees.