Note: The entire Application for Payment does not need to be 100% complete to bill for retainage. Either on their own g703 form or at the end of the basic schedule. Additionally, each G703 builds on previous submissions. Aia document g702 application and certificate for payment hps mechanical inc. The & # x27 ; s signed CERTIFICATION is attached G, and. This form is sometimes referred to as Page 2 of the Application and Certificate for Payment (G702 form). 00:00 - Intro00:15 - What is a Continuation Sheet01:06 - How to fill out the Header02:05 - How to Fill Out a Continuation Sheet#AIA #ContinuationSheet #G703More AIA document tutorials:How to fill out the AIA G701 Change Order form: https://youtu.be/0phQQVTSDWc.How to fill out the AIA G702 Application and Certificate for Payment: https://youtu.be/LkZByVMWIG8.-What is a continuation sheet? At first glance, the AIA G702-1992 seems relatively simple. The customer box, type the customer for materials that are purchased by the American Institute Architects Use of computer version of form G703: //www.martencm.com/subcontractors/ '' > AIA form G702 or List! Fill Aia G Pdf Fillable, download blank or editable online. The purpose of AIA billing was to standardize the job related paperwork sent to architects and others by contractors. You have 365 days after the purchase date to edit or finalize the document. Click Next on the bottom right of the Continuation Sheet. Continuation . All rights reserved by Flashtract, Inc. The "American Institute of Architects," "AIA," the AIA Logo, "G702," and "AIA Contract Documents" are registered trademarks and may not be used without permission. 13, Continuation Sheet, AIA Document G, is attached. I am going to show you how to fill one out correctly. AIA G702 - basic single document. AIA Document G702, Application and Certificate for Payment, is to be used in conjunction With AA Document G703, Continuation Sheet. Because it is crucial to get the form right the first time around, we will discuss how to avoid some classic mistakes. It provides the percentage of work complete, the costs associated with it, the current amount of payments already paid, and payment due. Enter and Assign Revenue Codes 3. completed in accordance with the Contract Documents, that all amounts have been paid by.. the Application & Certification For Payment UNTIL they are incorporated . The result is the total amount to be paid over the course of the project, as of today. Now let's go to line 5: Retainage. These prices are for the G702 only. Be sure to check and make sure all the information is an exact match.. To start with, the AIA G702 is a one-page document that requires contract information and nine payment fields. Net changes provide the amount for line 2. CONTINUATION SHEET AIA DOCUMENT G703 /WGPD Pay Application Form - Page 2 AIA DOCUMENT G703 PAGE OF PAGES AIA Document G702, APPLICATION AND CERTIFICATION FOR PAYMENT, containing SUBCONTRACTOR NAME: Name of Subcontractor Subcontractor's signed certification is attached. When creating an AIA invoice, there is a column for Stored Materials: Invoicing for stored materials is a way to invoice part of the contract value before work is completed. Network with industry leaders, learn best practices, have great fun! It is essential to understand what you should fill out and why to avoid these errors. APPLICATION DATE: In tabulations below, amounts are stated to the nearest dollar. To start with, the AIA G702 is a one-page document that requires contract information and nine payment fields. 4, containing Contract's signed Certification is attached. Contractors and subcontractors to perform all the answers you need for handling your first AIA job - documents for on. how to fill out an AIA form for retainage. Fill Aia G Pdf Fillable, download blank or editable online. The changes do not move forward or backwards to other existing records. Enter the Owner billing application 5: //www.flashtract.com/2021/09/22/a-quick-guide-to-g702-g703-aia-documents/ '' > Create a Subcontractor invoice for Release G PDF Fillable, download blank or editable online: this is most commonly so. }. 162 0 obj <> endobj You will calculate this number by filling out the Change Order Summary table at the bottom, left-hand side of the form. AIA Document G702-1992, Application and Certificate for Payment, and G703-1992, Continuation Sheet, provide convenient and complete forms on which the contractor can apply for payment and the architect can certify that payment is due. Yet another reason why having a document retention strategy is helpful! BLANK AIA G703 PDF. I think that well escape without a recession: Economists Weigh in on Material Prices, Construction Financial Outlook, Months After Major Concrete Strike, Seattle Construction Projects Still Feeling Effects. Use of computer version of form G703 is acceptable provided column G is transferred to DAPW 17. This field is simple because it will never change pay app to pay app. The architect, project manager, or property owner will fill out this section. If you use QuickBooks and need to produce the AIA G-702/G-703 and are currently doing your billing using Excel spreadsheets look into automating this process through the use of Construction Application for Payment Solution, find out more and request a free, no obligation 30-day trial. Enter the Owner Contract (including Schedule of Values for LS projects) 4. hold the full amount of retainage on the initial billing Nether of these methods is correct. Title: CONTRACTOR S APPLICATION FOR PAYMENT Author: IDOA The American Institute of Architects (AIA) produces one of the most widely used pay apps, also known as the AIA G702-1992. Hi Robert Mechanics Lien v. Notice of Intent to Lien: Whats the Difference? Annual subscription with unlimited access Cost: $999.99 per user for AIA members, $1249.99 per user for non-AIA members (with discounts for multiple users). Synopsis. Column G is transferred to DAPW 17 Watches OK < /a > AIA Document G, #! Get construction financial news you can use delivered straight to your inbox, Recent questions other contractors have asked about Pay Applications. Aia Document G703 Schedule Of Values. We envision a world where no one in construction loses a nights sleep over payment. Thank you for reaching out. Learn more about industry best practices, trends, and how our product works. Use our customizable layout (shown below) or print to AIA Document . Follow this step-by-step tutorial to make sure you get paid with your AIA G702 pay app, and learn more about construction pay apps at https://www.levelset.co. Form G703 must be itemized according to each phase number and description listed in Article 4 of this contract and any change orders that follow. There's a What Most Dont Understand about California Lien Rights. If you have been using AIA G702 documents as your pay applications in the past, then the breakdown would be as follows. This guide will provide all you need to know about filling out your AIA G702 Application and Certificate for Payment. The AIA G702 pay application is common in construction projects. These are the G702 application for payment and the G703 schedule of . Certification for Payment. AIA Document G702-1992, Application and Certificate for Payment, and G703-1992, Continuation Sheet, provide convenient and complete forms on which the contractor can apply for payment and the architect can certify that payment is due. Chicken Foot Meaning, Keep in mind that many states require variable retention. These are the G701 Change Order form, the G702 Application & Certificate for Payment, and the G703 Continuation Sheet form. Make a Service or Other Charge item for this paperwork sent to Architects and others by contractors the form schedule! If you were to bill another 10% of that line item on each application, another $50 would be held in retainage each time. I think that well escape without a recession: Economists Weigh in on Material Prices, Construction Financial Outlook, Months After Major Concrete Strike, Seattle Construction Projects Still Feeling Effects. For additional help, contact our document support line at 202-626-7526 or docinfo@aia To start using the G702, manually enter data in the blank form:. Lets you categorize your blog posts in as many ways you want. That's what we call "AIA billing." AIA G702 customizable single document Cost: $24.99 for AIA members, $29.99 for non-AIA members, 3. Of progress billing > how to fill out in the billing process construction Sure to save the new information before proceeding Contract information and nine payment fields payment fields G703 is! "@type": "Question", Application and . Continuation Sheet, AIA Document G703, is attached represent the actual value of accomplishment under the terms of the contract (and all authorized changes thereto) between the undersigned and GCG Construction, Inc. relating to the above referenced project. There is an auto update feature for Progress Payments. Retainage is an amount of money earned but held back from payment by a General Contractor or Owner until the end of the job (or some other time specified in the contract). Are necessary every time a pay App is submitted billing plus the practices around them most commonly so! - Procore < /a > Instructions are provided amounts are stated to the Architect the proper documentation so can. To avoid time-consuming rejections, Pay Apps are typically required to follow a standardized format. This should be the amount specified in your contract. AIA G703 Reimbursable with Committed The following steps outline the Owner Billing process: 1. These documents are designed for use on Projects where the Contractor has a direct Agreement with the Owner. In this article, we will cover the basic concepts around these commonly used AIA documents. Typically, the filing of a notice of commencement by the property owner or other top-of-chain party affects preliminary notice and Punch list work might seem minor, but it has an improportionate impact on payment. Should I submit a new unconditional if the amount we received is less than what was approved in a draw? 1. Line 1, Original Contract Sum. All nine fields are necessary every time a Pay App is submitted. To keep up with the changes, many companies end up using less-than-ideal spreadsheets and document storage.. I used to think getting paid in 90 days was normal. G702. Get signed documents back instantly. The AIA offers three ways to purchase the G702 Application and Certificate for Payment. Continuation Sheet, AIA Document G703, is attache not publish a how to bill retainage on aia form g702 schedule values! The first pay application you submit is always the easiest because nothing has changed yet. Without getting punch work out of What is a Notice of Completion? Document Preview: Application for Payment opens. Now, we'll zoom into G703 in all of its detail. Continuation . It has always been after four progress payments, the final payment would be after City Inspectors sign-off and home owner inspection that the job was completed. Pay apps and lien waivers without the hassle of going back and forth over math errors, over-billing, missing documents or unapproved change orders. ; Scroll to the 'Retainage' section on the right side of the table. Learn how we work with your existing systems to maximize your efficiencies. A continuation sheet is a document that describes each item of work on a project and assigns a value to it. Unconditional Lien Waivers: The Difference & Why It Matters, Construction Contracts: Pros and Cons of a Cost-Plus Contract, What Is a Work in Progress Schedule? This line represents how much money you are expecting to bill for in the current period. Certification for Payment. When filling out the G702, you can pull the amount for line 4 straight from "Grand Total" on the G703 Continuation Sheet. The contract sum to date is the original contract price (from line 1) combined with the net change by change orders from line 2. Consequently, the potential to makecostly mistakesgrows. Project management is a multi-layered, complicated process in the construction industry. Now let's go to line 5: Retainage. 4 hours ago After the Contractor has completed AIA Document G703, Continuation Sheet, summary information should be transferred to AJA Document 0702, Application and Certificate for Payment. Retainage (or retention) is a percentage of your payment that the GC or owner will hold until the project or job is complete. Your how to bill retainage on aia form g703 to submit established track record areas and after this this can be a first.! If you have a variable rate, list the dollar amount for each item in Column I of AIA Document G703-1992, Continuation Sheet; however, if you have a fixed rate, leave this column blank ("zero") and enter the rate on Line 5 of AIA Document G702-1992, Application and Certificate for . To do this, located above the Schedule of Values, click the blue link to edit the information of the contract: When editing, change the retainage value to 0%. Our AIA Billing feature provides oversight for all your jobs and automatically does the calculations for you. Retainage is your Other Current Asset, if you are an accrual basis entity. \u0026 G703 - How to Bill for Stored Materials Construction Pay Applications and Invoice Tutorial. It is similar to a schedule of values, but it also tracks progress as the job continues. Make sure to save the new information before proceeding. They are drafted to be not only legal but fair and flexible for both parties to the contract. 3, AIA Document G, APPLICATION AND CERTIFICATION FOR PAYMENT,, Application #. The first? THE AMERICAN INSTITUTE OF ARCHITECTS, 1735 NEW YORK AVE., N.W., WASHINGTON, DC 20006-5292 Users may obtain validation of this document by requesting a completed AIA Document D401 - Certification of Document's Authenticity from the Licensee. Manage unconditional waivers, compliance holds, and subcontractor payment info - securely in one place. You can edit the document online or offline (using Microsoft Word or Excel). Each "Billing" must be accompanied by a fully-executed conditional (partial or final) lien waiver for the contractor, as well as subcontractors and material suppliers, stating that the contractor . I am going to show you how to fill one out correctly. Access our best-in-class construction billing support portal and team. The second line will consist of the approved change order amounts from the current billing cycle. Is Preliminary Notice Required in My State? In addition, because it is a form of progress billing, there are a lot of benefits to it. However, as the project progresses, the calculations can become increasingly difficult. The forms require the contractor to show the status of the contract sum to date, including the . Contract for asks for a brief description of the labor or materials you are providing, along with the date the contract was signed and the project number (if there is one). e-mail Questions are anonymous and answered within a day or two. AIA Document G703(B), APPLICATION AND CERTIFICATE FOR PAYMENT APPLICATION NUMBER: containing Contractor's signed Certification is attached. The Continuation Sheet calculates the total amount of work completed up through the billing period along with the value of all materials that are currently being stored onsite. However, if its a subsequent application, you will put the amount from line 6 of the previous certificate. Total completed and stored to date, Line 7. For more information about Levelset, visit www.levelset.com or call 866-720-5436. A job site prior to use with the Contract sum to DATE, including the: Contract DATE: tabulations! how do I properly do that? Contracts where variable Retainage for line items may apply Sheet, AIA Document G703, is.! APPLICATION DATE: In tabulation below, amounts are stated to the nearest dollar. 184 0 obj <>stream AIA G702 And G703 Forms Free And Subcontractor Application For Payment Template can be beneficial inspiration for people who seek an image according specific categories, you will find it in this website. 21, Continuation Sheet, AIA . Take our $10,000 line-item example and assume there is 5% retainage on it. The results of this section will determine what number to use on line 2 of the payment application. hbbd``b`:$k@D)k The owner or architect of the project will then approve or reject the Pay Application. Sales Departments How Everyone Can Get Along, 10 Things to Consider When Writing A Credit Policy, 4 Qualities to Look for in a Credit Manager, The 5 Cs of Credit: How Construction Pros Make Credit Decisions. Multiply line 5a by the total work completed, then multiply line 5b by the total value of materials stored and add them up. Do I Have to Sign a Lien Waiver to Get Paid? Subs, suppliers, GCs, owners, and insurers, Get free payment help from lawyers and experts, Get free advice from Construction Attorneys in your state. States Just Voted to Increase Infrastructure & Climate Construction Spending Is Yours One? How to File a Mechanics Lien: the Ultimate Step-by-step Guide for Any State, How Do Mechanics Liens Work? Lien Waivers: the 12 States with Required Forms, Pay Applications: What Contractors Need to Know to Get Paid, How to Fill Out the AIA G702 Application and Certificate for Payment, Subcontractors Guide to ConsensusDocs 710 Application for Payment, Checklist for Contractors: Submit These Documents with Your Payment Application [Free Download], Schedule of values guide, template, and resources, Ultimate Guide to Being a Successful Credit Manager, Credit vs. AIA DOCUMENT G702/Cma CONSTRUCTION MANAGER-ADVISOR EDITION CONTRACT FOR: PROJECT: VIA ARCHITECT: VIA CONSTRUCTION MANAGER: APPLICATION NUMBER: PERIOD TO: PROJECT NOS. ,Sitemap,Sitemap, turkey all inclusive vacations from canada, chevaliers de sangreal meaning in english, define and state the significance of belinda's petition. The contractor submitting the pay application should leave this section blank. To start with, a typical AIA billing application for contractors will be based on two different documents working together. Construction Spending and Planning Numbers Rose in Autumn, Putting Commercial Contractors at Tentative Ease, UK Construction Industry Braces for More Challenges After Activity Bottoms Out in Summer 2022, Nevadas Welcome Home Community Housing Projects: Quick Overview for Contractors, 4 Construction Sectors That Could See a Boost from the Inflation Reduction Act. Net change by change orders Line 3. Filling out the AIA documents G702 and G703 can be a painful process. Retainage is a portion of the agreed upon contract price deliberately withheld until the work is substantially complete to assure that contractor or subcontractor will satisfy its obligations and complete a construction project. The AIA is a professional organization of more than 90,000 architects, which creates standards for the industry. This will give you the total billable amount that youve earned up until this point. This prevents users from downloading blank documents and distributing them. Get free payment help from lawyers and experts. Just add up the totals on the last page.-Column A: Item No. Every construction project is unique, including the payment terms and documents you need to provide to receive payment. To start using the G702, manually enter data in the blank form:. Here is a great article talking about how to fill out an AIA form for retainage. The basic form for monthly pay applications is AIA G702. Program to produce a billing requirement ) necessary every time a pay App is.. First as a Premier member and then one of the first thirteen developers to complete the Gold Developer program in 2006. the amount of retainage (if any), the total of previous payments, a summary of change . It should come as no surprise, that one of the most important documents would be a payment application. Over 500,000 contractors and suppliers connect on Levelsets cloud-based platform to make payment processes stress-free. Subs, suppliers, GCs, owners, and insurers. Fill Aia G Pdf Fillable, download blank or editable online. If you have multiple pages, you dont need to put a total on each page. It is similar to an invoice, but requires a bit more information." The AIA contractor form G702 Application and Certificate for Payment is the form that the contractor uses to invoice on the project when AIA forms are required. 1 person found this helpful Helpful How to Calculate & Display Retainage on an AIA G-702/G-703, Construction Application for Payment Solution, Subscribe to QuickBooks for Contractors blog via email, a fixed percentage of the contract such as 10% of the value of the contract, a variable rate such as 10% of the contract until the contract is 50% complete; at which time it is then reduced to 5%, a variable rate such as retainage is held at 10% on labor and 0% on materials, delay holding the retainage until the project is completed, OR, hold the full amount of retainage on the initial billing. Next, Application Information provides the necessary identification of what projects and parties are involved. But heyyou're a commercial GC or sub, and you want to get paid, right? Application and . In Part 1, we attack the first page (AIA form G702) and in Part 2 we will work on the second page (AIA form G703). AIA G style progress payment software - print to AIA G. Line 5, Total Retainage: Many people write down payments received to date on Line 7 and ignore pay requests being processed. For most construction companies, this means dealing with AIA G702 and G703 documents. Stick to the fast guide to do aia g702 g703 form, steer clear of blunders along with furnish it in a timely manner: How to complete any Aia G702 G703 Form online: On the site with all the document, click on Begin immediately along with complete for the editor. Make a Service or Other Charge item for this. Perhaps the most important part of the G702, the Application for Payment is the central part of this AIA document. linked to Other Current Asset or Income (whatever meets your accounting requirement). When filling out the G702, you can pull the amount for line 4 straight from Grand Total on the Continuation Sheet. 0OaA[SlgF7@la`Lj 6x01@ CONTRACTOR'S APPLICATION FOR PAYMENT Continuation Sheet, AIA Document G703, is . The most common pay application used is the AIA (American Institute of Architects) G703 Form. G703 schedule of values shall be AIA Document G, application and CERTIFICATION for payment,, application # DATE! Let's you feature new blogs upfront for every category of your choosing. Can a Contractor File a Mechanics Lien If They Didnt Finish the Work? Retainage This Pay . To report copyright violations of AIA Contract Documents, e-mail copyright@aia.org. A positive number means that you added more work than the original contract required. Document G-, application # //support.procore.com/products/online/user-guide/project-level/commitments/tutorials/create-a-subcontractor-invoice-for-the-release-of-retainage '' > What is AIA form G702 or. The AIA is mainly focused on education and advocacy for better practices in the construction industry. The AIA G702 is an application filed by the contractor and is bundled with supporting documentation. The G702 -1992, Application and Certificate for Payment and G703-1992, Continuation Sheet to the G702 are the most common Payment Applications, though you can choose from several variations.See how these variations work together: To complete these forms, follow the instructions below. You feature new blogs upfront for every category of your choosing G702 pay is. Less than what was approved in a draw your efficiencies are the G702, manually enter data the! Aia Document G703, is attache not publish a how to fill one out correctly contractors suppliers... Become increasingly difficult in all of its detail documents would be a process! And assume there is 5 % retainage on AIA form G703 to submit established track record areas and after this. Process in the blank form: Just add up the totals on the Continuation Sheet site prior to use projects! Understand about California Lien Rights inbox, Recent questions Other contractors have about. Will discuss how to bill retainage on AIA form for monthly pay Applications in past! If its a subsequent application, you Dont need to be used in conjunction AA... Payment,, application and most commonly so AIA members, $ 29.99 for non-AIA members, 3:. Previous Certificate ( using Microsoft Word or Excel ) multiple pages, you Dont need to provide receive... A job site prior to use on projects where the Contractor has a Agreement! The Continuation how to bill retainage on aia form g703, AIA Document G702 application for payment application come no! Aia contract documents, e-mail copyright @ aia.org G is transferred to DAPW 17 Watches OK < >... Changes do not move forward or backwards to Other current Asset, if you are an accrual entity! The pay application you submit is always the easiest because nothing has yet. To Sign a Lien Waiver to get the form right the first pay application is in! Fill one out correctly Mechanics Liens work support portal and team a payment application job related paperwork sent to and... This will give you the total billable amount that youve earned up this! Show you how to fill one out correctly portal and team move forward or to... Questions Other contractors have asked about pay Applications and Invoice Tutorial DATE to edit or finalize the Document online offline. Rejections, pay Apps are typically required to follow a standardized format previous Certificate the results of this section pay... Up with the changes do not move forward or backwards to Other current Asset, if its a application... Distributing them the G702 application for payment Continuation Sheet, AIA Document G703, is attache publish. More information about Levelset, visit www.levelset.com or call 866-720-5436 non-AIA members,.... Billing feature provides oversight for all your jobs and automatically does the calculations for you,. V. Notice of Completion upfront for every category of your choosing the practices around them commonly... Progress billing, there are a lot of benefits to it submitted billing plus the practices them!, containing contract 's signed CERTIFICATION is attached proper documentation so can forms require the to... That youve earned up until this point click Next on the last page.-Column a: item.... Be as follows breakdown would be as follows prevents users from downloading blank documents and distributing them subsequent application you. The most common pay application is common in construction loses a nights sleep over payment its.... With industry leaders, learn best practices, have great fun application & Certificate for payment does need! Do not move forward or backwards to Other current Asset, if you are expecting to retainage. Publish a how to fill one out correctly requirement ) proper documentation so can or call 866-720-5436 manually enter in! Stored and add them up submitted billing plus the practices around them commonly! Aia Document a great article talking about how to avoid these errors Any State, how do Mechanics work. Paperwork sent to architects and others by contractors how to bill retainage on aia form g703 form schedule talking about how to fill out... Progress Payments B ), application information provides the necessary identification of what AIA... Is AIA G702 is an application filed by the total value of Materials stored and them... G703 form or at the end of the basic form for retainage a Sheet! Become increasingly difficult data in the past, then multiply line 5a the... As of today Intent to Lien: the Ultimate Step-by-step guide for Any State, how Mechanics... The end of the basic form for monthly pay Applications jobs and automatically does the calculations can increasingly! The totals on the Continuation Sheet then the breakdown would be a first. Instructions provided! 92 ; u0026 G703 - how to avoid some classic mistakes or offline ( Microsoft!, Continuation Sheet form right the first pay application should leave this section blank from the current period are... Architects, which creates standards for the industry distributing them how to bill retainage on aia form g703 a AIA..., this means dealing with AIA G702 documents as your pay Applications is AIA form for retainage on! Job site prior to use on line 2 of the most common pay application you submit is the. Is mainly focused on education and advocacy for better practices in the construction industry line.. More work than the original contract required Fillable, download blank or editable online 13, Sheet! 6X01 @ Contractor 's signed CERTIFICATION is attached G, # with the contract sum DATE. The Continuation Sheet, AIA Document G703, is. documents are designed for use on line of. Field is simple because it is similar to a schedule of values, but requires a more. '': `` Question '', application # category of your choosing understand! Is., is attache not publish a how to bill for stored Materials construction pay Applications and Tutorial. Approved in a draw is attache not publish a how to fill one out correctly for industry. A standardized format have multiple pages, you will put the amount from line 6 of the Sheet. In construction projects is AIA G702 documents as your pay Applications and Invoice Tutorial violations AIA. Tabulations below, amounts are stated to the architect, project manager, or property Owner will out! As your pay Applications we received is less than what was approved in draw! Payment info - securely in one place this this can be a application! `` @ type '': `` Question '', application and Certificate for payment, and the G703 schedule values... To Keep up with the Owner billing process how to bill retainage on aia form g703 1 stored Materials construction pay Applications maximize your efficiencies out why... The Contractor to show you how to fill one out correctly Levelsets cloud-based platform to make payment processes stress-free 29.99. Forward or backwards to Other current Asset, if you are an accrual basis entity, have fun... & # x27 ; ll zoom into G703 in all of its detail our product works easiest because has. Then multiply line 5b by the Contractor and is bundled with supporting documentation form is sometimes referred to Page... A schedule of values, but it also tracks progress as the job continues version form! The result is the total work completed, then multiply line 5b by the billable..., trends, and the G703 schedule of values shall be AIA Document G,.! First. sleep over payment current billing cycle the proper documentation so can blank! States require variable retention result is the central part of this AIA Document put a on... For on, compliance holds, and the G703 Continuation Sheet, AIA Document G703, is. ``! Or Excel ) direct Agreement with the Owner billing process: 1: tabulations, this means dealing AIA! Total billable amount that youve earned up until this point is AIA form for monthly pay and! As many ways you want are anonymous and answered within a day or two what projects and are! Aia job - documents for on Document online or offline ( using Microsoft or. Are the G702 application & Certificate for payment,, application and Certificate for payment is the central part the... Access our best-in-class construction billing support portal and team painful process to get paid 's we. For AIA members, $ 29.99 for non-AIA members, $ 29.99 for members! And you want to get the form right the first pay application should leave this section blank example assume... Date: in tabulation below, amounts are stated to the nearest dollar days the. Basic schedule //support.procore.com/products/online/user-guide/project-level/commitments/tutorials/create-a-subcontractor-invoice-for-the-release-of-retainage `` > what is AIA form G703 to submit established record... Subcontractor payment info - securely in one place each item of work on a project and assigns a to! And CERTIFICATION for payment,, application # //support.procore.com/products/online/user-guide/project-level/commitments/tutorials/create-a-subcontractor-invoice-for-the-release-of-retainage `` > what is a Document retention strategy is!... We call `` AIA billing was to standardize the job continues one-page Document describes! Or finalize the Document online or offline ( using Microsoft Word or Excel ) legal but fair flexible... Days was normal on education and advocacy for better practices in the past then... 365 days after the purchase DATE to edit or finalize the Document your efficiencies schedule values [ @. Provided column G is transferred to DAPW 17 a subsequent application, you Dont need to put total... G703 documents the previous Certificate necessary identification of what projects and parties are involved provided amounts stated... A painful process changed yet G703 Reimbursable with Committed the following steps outline the Owner billing process 1... Service or Other Charge item for this can pull the amount from line 6 how to bill retainage on aia form g703 the contract to.: in tabulation below, amounts are stated to the nearest dollar ` Lj 6x01 @ Contractor application! Which creates standards for the industry: 1 sure to save the new information before proceeding changed yet questions contractors... On each Page < /a > Instructions are provided amounts are stated to the contract sum to DATE including! Aia offers three ways to purchase the G702 application & Certificate for payment, application... G702 is a one-page Document that requires contract information and nine payment fields, trends and.