What is AIA Document g702?
Also know, what is an AIA Document g703?
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.
Beside above, what does AIA stand for? American Institute of Architects
Accordingly, what is AIA format?
The AIA filling system is a standardized method of construction percentage of completion contract billing (IE: Progress Billing) developed by the American Institute of Architects (AIA) in 1992.
What is an AIA Application for Payment?
An AIA is a document that contains completed contract billing throughout the project; this document was created mainly to assist architects working on a construction project to be paid for the work completed on the project.
What is an AIA schedule of values?
A Schedule of Values (SOV) is a detailed schedule apportioning the original contract sum and all change orders, among all cost code divisions or portions of the work. After the Schedule of Values is approved, it becomes the basis for all Contractor/Vendor invoices for hard and soft costs."What is a g704?
The AIA contractor form G704 is the Certificate of Substantial Completion for a construction project. The G704 ™ Certificate of Substantial Completion is a standard AIA document for recording the date of substantial completion of the work or substantial completion of a designated portion thereof.What is AIA form g702?
GENERAL INFORMATION. Purpose and Related Documents, AIA Document G702, Application and Certificate for Payment, is to be used in conjunction with AIA Document G703, Continuation Sheet. These documents are designed for use on Projects where the Contractor has a direct Agreement with the Owner.What is a final document?
: a final version of something (such as a document) usually after a lot of editing and rewriting The final draft is due tomorrow.What is application for payment?
An application for payment is a construction document that outlines how a contractor will be paid. An application for payment provides both the owner and the contractor with a method of controlling what items or materials have been provided by the contractor.What is the difference between an invoice and an application for payment?
Payment application is when a received payment is applied to an account balance. An invoice is a presentation to a customer of the amount owed for product or services for a period, usually 30 days. When that limit is reached, no more product will be issued or shipped until some amount of payment is received.What is a certificate for payment?
Certificate for Payment means the amount approved for payment by the Project Manager after the receipt of the Contractor's Application for Payment, as more fully defined in paragraph 9.4. 1.What are pay apps in construction?
But a pay app is actually a collection of supporting documents that first and second tier contractors submit to request payment. The construction contract will typically define the process for submitting a pay app, the documents to include, and the deadline for submission.ncG1vNJzZmiemaOxorrYmqWsr5Wne6S7zGiuoZmkYra0ecCimGacn5jCrrHNrWSgb2Bn