POLICY: Contractors Application for Payment

PURPOSE: To provide the Owner with a concise and consistent billing.

RESPONSIBILITY: Project Manager

PROCEDURE:

1. The contract is to be reviewed to determine when billings are to be submitted.

2. If possible, the monthly Owner/Architect/Owner meeting should be scheduled for when the billing is due. Therefore, the billing and job progress can be reviewed at that time.

3. The billing is to contain the following:

  • Cover Sheet – Notes job name, billing number, and recaps billing.
  • AIA-G702 Application and Certification for Payment – Notarized.
  • AIA-G703 Schedule of Values – To be broken down in 42 + categories depending on job size. The breakdown on the attached example is to be used; however, some lines may have to be added or deleted to suit the specific job.
  • Interim Waiver and Release of Lien – Notarized.

4. An example billing is attached (O.P.M.-90).

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