how to bill retainage on aia form g702

American Institute of Architects - Application and Certificate for Payment . Now let's go to line 5: Retainage. Get the TS 702, TS 703, and TS 732 CMa in one program. What is AIA Billing? - Mr. HVAC Purpose and Related Documents, AIA Document G702, Application and Certificate for Payment, is to be used in conjunction with AIA Document G703, Continuation Sheet. AIA G702 Forms: A Subcontractor's Guide + The 6 Biggest ... The AIA® Document G702 1992 is both the contractor's request for payment as well as the architect's certification (determining whether or not you get paid). Completing payment applications in the online ... - ACD Help Support & Troubleshooting. PLEASE NOTE: This is a physical copy of the contract, not a download.AIA G702 - Application & Certification For Payment (Package of 50) by AIA.G702 - 1992, Application and Certificate for PaymentThese documents provide convenient and complete forms on which the contractor can apply for payment and the architect can certify that payment is due.The forms require the contractor to show the status . 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. Required User Permissions: To set and release retainage when editing an invoice before, during, or after the current billing period, 'Admin' level permissions on the project's Commitments tool. Instructions: G703®-1992, Continuation Sheet - AIA ... How to fill out the AIA G702 Application for Payment Release Retainage. This form is sometimes referred to as Page 2 of the Application and Certificate for Payment (G702 form). Purpose and Related Documents, AIA Document G702, Application and Certificate for Payment, is to be used in conjunction with AIA Document G703, Continuation Sheet. Retainage is meant to serve as an insurance policy in case some of the work performed is not of sufficient quality, or if the scope of work performed does not match the scope . It is powerful, flexible and easy to use. 1735 NEW YORK AVENUE, N.W.. WASHINGTON, D.C. 20006-5232 G703-1992 This AIA form G702 is actually titled "Application and Certificate for Payment," but this is often shortened to just "application." In AIA billing, the architect (or owner or general contractor, in many cases) gets to Support for old Paymee v2 & v3. ORIGINAL CONTRACT SUM $ TOTAL 2. Cost: $9.99 for AIA members, $11.99 for non-AIA members. This high quality program has more features, options, and form styles, including progress payments which automatically update. Q6. AIA Document G702, APPLICATION AND CERTIFICATE FOR PAYMENT, HPS Mechanical, Inc. 3100 E. Belle Terrace Bakersfield, CA 93307 X A notary public or other officer completing this certificate verifies only the identity of the individual who signed the document to which this certificate is attached, If you select this option on their website, you will need to fill out some project details (about the owner, architect, and contractor) on a web form before you can actually buy it. AIA G702 - basic single document. or similar . CONTINUATION SHEET AIA DOCUMENT G703 (Instructions on reverse side) AIA Document G702, APPLICATION AND CERTIFICATE FOR PAYMENT, containing Contractor's signed Certification, is attached. completed in accordance with the Contract Documents, that all amounts have been paid by.. G703-1992, Continuation Sheet. To start with, a typical AIA billing application for contractors will be based on two different documents working together. Change Orders approved in ADDITIONS DEDUCTIONS previous months by Owner 1. When the information looks like below, invoice the retainage once more: Now that the retainage value has been reset to 0%, the amount that was previously retained is now moved back into the AIA invoice. To start using the G702, manually enter data in the blank form:. Print to *AIA Document G702. 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 Document G703(B), APPLICATION AND CERTIFICATE FOR PAYMENT APPLICATION NUMBER: containing Contractor's signed Certification is attached. If you were allowed a 10% deposit, then assign a 10% percentage complete to each Section on the AIA form. So you're going to fight through the painful reconciliation required to fill out the payment application forms no matter what, even if it means hours lost to administrative process that could have . To start with, the AIA G702 is a one-page document that requires contract information and nine payment fields. Update items by value -or- by % -or- by cumulative value -or- cumulative % Customizable layout & features. 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.The forms require the contractor to show the status of the contract sum to date, including the total dollar amount of the work completed and stored to . Filling out the AIA documents G702 and G703 can be a painful process. When editing, change the retainage value to 0%. I am going to show you how to fill one out correctly. Net change by Change Orders $ Approved this Month 3. In the Customer box, type the customer ID or click List to select from a list of customers. But hey—you're a commercial GC or sub, and you want to get paid, right? Frequently Asked Questions. The G702® -1992, Application and Certificate for Payment and G703®-1992, Continuation Sheet to the G702 effectuate the payment process that is . aia.paymee.com The AIA Document G702-1992 is both the contractor's request for payment as well as the architect's certification (determining whether or not you get paid). These documents are designed for use on Projects where the Contractor has a direct Agreement with the Owner. Now, construction billing software allows contractors and subcontractors to perform all the duties required in the billing process. The form provides a full breakdown of the contract price, performance, change orders, and yes…retainage. For additional help, contact our document support line at 202-626-7526 or docinfo@aia…. When filling out the G702, you can pull the amount for line 4 straight from "Grand Total" on the G703 Continuation Sheet. This form serves as both the Contractor's application for current payment due and the Architect's certification that payment is . 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. If you need to change only the retainage settings for a particular line item, then use setting D or E and then you will be able to over-ride each line item setting with a value or formula. Set the Retainage Calculation. BILLING RETENTION ON AN AIA INVOICE (This is also applicable to Unit Billing Invoicing) Even though you don't bill retainage until the very end . 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. Using these documents, the Contractor can apply for payment due and the Architect can certify that the payment is due. Our AIA Billing feature provides oversight for all your jobs and automatically does the calculations for you. This reflects the information entered in Prolog's Owner Contract -> Contract Amounts module and the Application for Payment program. The AIA G703 form is generally the second page of the AIA pay application, and the first page is the AIA G702 Form. Information before proceeding Institute of Architects ( AIA ) produces one of the most widely used pay,... The Architect ; v3 702, TS 703, and yes…retainage ) 5 used pay apps also. The duties required in the Customer ID or click List to select from a List of.. 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