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57574 MAC PROGRESS PAYMENT FORM 57574 MAC PROGRESS PAYMENT FORM 2026
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- Click ‘Get Form’ to open it in the editor.
- Begin by entering your details in the 'Your details' section. Fill in your application reference number, construction address, and new postal address if different from your residential address.
- In the 'Payment details' section, specify the progress payment number/stage. If you have a builder’s invoice, provide the amount to be paid and the builder’s name. For reimbursements, include the amount and BSB.
- Sign and date the form in the 'Your acceptance' section. Ensure that all borrowers sign where indicated.
- Review the 'Supporting document checklist' to ensure all required documents are attached before submission.
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| Versions | Form popularity | Fillable & printable |
|---|---|---|
| 2019 | 4.8 Satisfied (47 Votes) |
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What is the progress payment method?
Contractors or subcontractors can request a progress payment using a payment application, which should be defined in the contract requirements. A payment application is a type of construction document that prime contractors and first-tier subcontractors use to request payment from the hiring party.
How to request a progress payment?
20% of contract value progress payment. The standard progress payment set out in the Domestic Building Contracts Act is 15%, the builder has added and additional 5% which for an average home could be $15k-$30 more at the early stages of construction.
What does progress payment mean?
Progress Payment is a payment method commonly used in the construction industry, where the contractor is paid at intervals as work progresses rather than receiving a single lump-sum payment upon completion.
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