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Design Services Contract means all contracts and agreements entered into between Borrower and each Design Professional pertaining to the design, development, and construction of the Improvements, if any.
Retainers, otherwise known as fees paid in advance to procure future work and services, are a standard and important part of doing business for architectural firms and service professionals in general. They are often the beginning of a beautiful fiduciary relationship between the architect and client.
Choosing the right owner-architect agreement is critical to any commercial design project. This is because the agreement establishes a foundation for the contractual relationship between the owner and architect and communicates the expected design and other services that the architect will provide.
A design services agreement is a legal document used by a company to outline the terms and conditions of a design firm or individual contractor performing design services on behalf of the company.
The basic elements that should be addressed in an agreement between an owner and architect include (1) the owner's objectives for the project, (2) the architect's scope of services and a description of the drawings or other deliverables the architect is to furnish; (3) the fees to be paid for providing those services