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This video tutorial explains how to prepare interim payment applications for a project from start to end, including applying and releasing retention, recovering advanced payments, creating a statement at completion, and making the final account. The project has a value of 75650 and a duration of five months, with five interim payment applications and a final account. Advanced payment is ten percent of the value, and retention is also ten percent, with five percent released upon completion and five percent after the Defects Liability Period (DLP). The payment application format will be used for this process.
