The patchwork pattern of horizontal and vertical bars was translated into a jacquard-woven cotton textile for upholstery.
"While fine cotton yarn offers a soft hand and subdued lustre enhanced by a calendared finish, a tapestry construction of tight rib and twill weaves provides graphic precision and clear colour," said Maharam.
Smith's Spring Summer 2015 collection referenced the colours and Art Deco architecture of Miami. Here, the pale hues of peach, lilac and pink are contrasted with bolder chartreuse and blue tones.
The designer is renowned for his use of colour, particularly the stripes that he has previously applied to everything from his garments and accessories, to limited-edition Hans J Wegner chairs.
"The concept emerged from one of Maharam's two annual design meetings at Paul Smith's London offices and developed over a transatlantic exchange of woven prototypes supported by close email contact," said the brand.
Smith has worked with Maharam since 2002, creating 11 textiles including the 2015 Houndstooth design that was also lifted from one of the designer's runway shows. He is also set to launch an interpretation of a classic plaid for the brand early next year.
The Assembled Check is woven in Germany, at the same facility where Maharam produces textiles by designers including Studio Job, as well as its own studio.
Maharam debuted the Assembled Check at this year's NeoCon trade fair in Chicago, which took place from 13 to 15 June 2016.
Also on show at the event in the city's Merchandise Mart building is PearsonLloyd's collection of office furniture for open-plan workplaces.
Maharam was acquired by US furniture giant Herman Miller for $101 million (£70.7 million) in 2013. The brand has previously launched a collection of interior fabrics by Scholten & Baijings, and recently released wallpaper by Jean Nouvel in partnership with London's Serpentine Gallery.