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In this video tutorial, the process of preparing interim payment applications for a project is explained from start to finish. This includes applying and releasing retention, recovering advanced payments, creating a statement at completion, and making the final account. The project has a value of 75650, a duration of five months, with five interim payments and the final account. The advanced payment is 10% of the value, with 5% released at completion and 5% after dlp. A payment application format is used for this process.
