Aia payment Application Forms

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Commonly Asked Questions about Aia payment Application Forms

What is the billing format?

The billing process consists of two contract documents, or payment application documents, G702 and G703, that track previous payments and current payments. These forms work together to provide a clear breakdown of the work completed and the corresponding payments.

What is a G707?

Document G707 is intended for use as a companion to Document G706, Contractors Affidavit of Payment of Debts and Claims, on construction projects where the Contractor is required to furnish a bond.

What is an application for payment?

The Application for Payment is similar to the American Institute of Architects () Document G702, titled Application and Certificate for Payment. It is a report that lists base contract and change order commitment amounts in addition to previous amounts that were billed and retained.

What are forms G702 and G703?

forms are complex legal documents that require specific data entries. Careful step-by-step methods help avoid errors that could result in denial of the pay app. For example, the G703 is essentially a schedule of values. Then the G702 describes each expense incurred during the pay period.

What is a G707 form?

G7071994, Consent of Surety to Final Payment intended for use as a companion to Document G7061994, Contractors Affidavit of Payment of Debts and Claims, on construction projects where the contractor is required to furnish a bond.

How to fill outHow to fill out an billing form?

The G702 is the payment application form that summarizes the request, including: Original contract value. Change orders. Amounts billed previously. Current billing amount. Retainage. Taxes. A Contractors Guide to Billing - Procore procore.com library -billing procore.com library -billing

What is a G706A form?

Instructions: G706A1994, Contractors Affidavit of Release of Liens.

What is the purpose of a consent of Surety?

A Consent of Surety to Final Payment is a crucial document in the realm of construction and project management. It serves as a formal assurance by the surety company to the project owner. The surety company affirms that it consents to the contractor receiving their final payment for the project.