On November 5th, 2007, the American Institute of Architects (AIA) issued the 2007 version of A201 General Conditions of the Contract for Construction. As one of the most widely used construction contracts in the United States, the A201 is arguably the most common of the AIA contract documents. The goal of this paper is to provide contract administration guidelines for national and international contractors working under the AIA A201-2007. The authors attempt to explain risk allocation by examining the rights and responsibilities of the architect, the owner, and the contractor. The authors further study the provisions related to commencement, approvals, payment, delays and extension of time, concealed or unknown physical conditions, liquidated damages for delay, claims, and dispute resolution. Although the subject matters discussed in this paper are not exhaustive, the main provisions are highlighted and explored to understand how the aforementioned contractual matters are addressed under AIA A201-2007. It is anticipated that this detailed study will aid in the understanding of the contract provisions and will therefore provide the associated contractors with a handy manual for more effective contractual management in future projects under AIA A201-2007.