AIA Document G702 Form

1. Everything You Need to Know About the AIA Document G702 Form payearned.com

2. Construction payment applications need not be complex. You must have the proper paperwork to receive payment punctually and continue with your projects without problems. The standard form adopted throughout the industry assists the contractor, owner, and architects in remaining on a similar track regarding billing. This is a vital document that can be understood to make the payment process quicker and safe to all. payearned.com

3. The Reason Why This Form is Important to Your Construction Projects. The payment application that is official is the G702. You apply it to collect payment done in finished construction projects. It is a summary of the total amount of the contract, amount paid to date, amount of work performed and the amount you are requesting at this time. This type forms a legal history. It secures both the contractors and the property owners since all the payment requests and approvals are registered. These forms are evidence in the court in case of a dispute in the future. payearned.com

4. What Information is on the Document? The form consists of the basic project details at the top. You will complete the project name, contractor, owner and the date of the contract. The pro forma covers the initial contract value, the change that has been made and the new value. Locating Digital Versions Usable. A good number of contractors would like to have options of convenience in the form of AIA G702 Excel Free Download. With Excel spreadsheets, you can store templates and use them in several projects. The software is set up to automatically compute totals eliminating math errors that may enforce delays in payment. payearned.com

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