In this video, we talk with Ben Segal about the top five questions we regularly get from contractors and subcontractors about filling out applications for payment (i.e. forms G702 and G703).
Forms in This Article
G702–1992, Application and Certificate for Payment
Form used when a contractor applies for payment and the architect certifies the payment is due. Shows the contract sum to date, including the total dollar amount of the work completed and stored to-date, the amount of retainage (if any), the total of previous payments, a summary of change orders, and the amount of current payment requested.
G703–1992, Continuation Sheet
This continuation sheet should be used by the contractor when listing the portions of work and scheduled values. It is suitable for any sized project.