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This video tutorial explains how to create a payment application for contractors and clarifies the difference between a payment application and a payment certificate. As a contractor with a project worth $100,000 over five months, payments are made based on the percentage of work completed each month. When you submit a request for payment based on the work done that month, it is called a payment application. The application calculates the value of the work done so far in that month.
At DocHub, your data security is our priority. We follow HIPAA, SOC2, GDPR, and other standards, so you can work on your documents with confidence.
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