The AIA 312 Performance and Payment Bond Form
This is a specific payment and performance bond form created by the American Institute of Architects . This form was first created back in 1911 and has had numerous revisions since. The newest version is the 2010 version that took into consideration the input of numerous members and groups of and participants of the construction industry. The process to revise this bond form began in 2009. As AIA bond forms go, this form is deemed to be the most current considering recent case law and fairest to all parties involved.
Here’s a link to a comparison of the 2010 version of the AIA 312 to previous versions: