The architect's liability for construction cost overruns

The standard form of agreement between the owner and architect, which attempts to address the concern of cost overruns of a construction, are discussed. The agreement states that if the cost of the work exceeded the lowest bonafide bid, then the owner would give a written approval of an increase in the budget of the project and authorize rebuilding of the project within a reasonable time. The basic concept of the agreement is that, if the the cost of the project goes up too high then the architect must redesign the work without taking fees. It is recommended that the two parties should be familiar with the contract, and if any unexpected events occur, then the contract should be reviewed.