AIA G702 1992 Application and Certificate for Payment
This file is the AIA Document G702-1992, which serves as an application and certificate for payment in construction projects. It provides a structured format for contractors to request payment for completed work. The form also ensures compliance with contract documents and facilitates communication between contractors, owners, and architects.
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How do I fill this out?
To fill out the AIA G702 form, start by understanding each section and its purpose. Gather the necessary financial information related to your project, including contract sums and payment details. Follow the structured format to complete each line accurately to ensure a smooth payment process.
How to fill out the AIA G702 1992 Application and Certificate for Payment?
1
Review the original contract sum and any changes due to change orders.
2
Calculate the total completed and stored amounts to date.
3
Determine the retainage percentages for completed work and stored materials.
4
Subtract any previous certificates for payment from the total earned to calculate the current payment due.
5
Finalize the balance to finish, including retainage, and ensure all figures are accurate.
Who needs the AIA G702 1992 Application and Certificate for Payment?
1
Contractors who need to request payment for completed work.
2
Project owners who want to track payment requests from contractors.
3
Architects tasked with certifying the progress of the work.
4
Accountants handling project finances to maintain accurate records.
5
Construction project managers overseeing payment schedules and budgets.
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1
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2
Select the sections and fields you need to edit.
3
Make the necessary changes and updates to the document.
4
Review all entries to ensure accuracy and compliance.
5
Download your edited PDF to share or submit.
What are the instructions for submitting this form?
To submit the AIA G702 form, email the completed document to the project owner or architect involved in the project. You may also choose to submit it via fax to the specified number listed on the contract documents. Alternatively, if an online submission portal is available, upload your document through the provided link and ensure all fields are correctly filled out before finalizing your submission.
What are the important dates for this form in 2024 and 2025?
Important dates for AIA G702 submissions include project milestone deadlines and payment release schedules outlined in your contract. These deadlines ensure timely processing of payments and maintain project progress. Always refer to your contract for specific payment dates.
What is the purpose of this form?
The AIA G702 form serves as a standardized method for contractors to apply for payment for work completed in construction projects. Its main purpose is to ensure that all requests for payment are documented, facilitating clear communication between contractors, owners, and architects. This form also enables compliance with the contractual agreements established at the beginning of the project.
Tell me about this form and its components and fields line-by-line.
- 1. Original Contract Sum: The total amount agreed upon in the contract.
- 2. Net Change by Change Orders: Adjustments made to the original contract sum due to approved change orders.
- 3. Total Completed & Stored to Date: The cumulative value of work completed and materials stored for the project.
- 4. Retainage: A portion of the payment withheld until the project completion to ensure quality.
- 5. Total Earned Less Retainage: Total amount earned by the contractor after deducting retainage.
- 6. Current Payment Due: The total amount the contractor is applying for at the time of submission.
What happens if I fail to submit this form?
Failing to submit the AIA G702 form can result in delayed payments and potential disputes between contractors and project owners. It is crucial for contractors to ensure that all required fields are complete and accurate to avoid any setbacks. Incomplete submissions may also lead to non-compliance with contract terms.
- Delayed Payments: Payments may be delayed if the form is not submitted accurately and timely.
- Disputes: Missing or incorrect information can lead to disputes between contractors and owners.
- Non-Compliance: Failure to adhere to submission guidelines may result in non-compliance with contract terms.
How do I know when to use this form?
- 1. Requesting Payment: Whenever a contractor completes a portion of work and needs to be compensated.
- 2. Documenting Changes: When changes to the original contract are implemented and need to be reflected in the payment request.
- 3. Maintaining Project Documentation: To keep a thorough record of all payment applications for the project's lifecycle.
Frequently Asked Questions
What is the AIA G702 form?
The AIA G702 form is an application and certificate for payment used in construction projects, enabling contractors to request payment for their completed work.
How do I fill out the AIA G702 form?
To fill out the form, gather the relevant financial information related to your project, including contract sums and completed work calculations.
Can I edit the AIA G702 PDF?
Yes, you can easily edit the AIA G702 PDF on PrintFriendly before downloading your final version.
Do I need to sign the AIA G702 form?
Yes, the AIA G702 form requires signatures from the contractor and architect to be valid.
How can I share my completed AIA G702 PDF?
You can share your completed PDF through email or messaging platforms directly from PrintFriendly.
Is there a specific format for filling the AIA G702?
Yes, the AIA G702 form follows a specific structure which needs to be adhered to for it to be processed correctly.
What happens if I make a mistake on the AIA G702 form?
You can easily edit the form in PrintFriendly to correct any mistakes before submitting it.
Who verifies the AIA G702 submission?
The architect typically verifies the submission as per the terms of the contract.
Can I save my edits on PrintFriendly?
You can edit and download your PDFs, but saving them on the platform isn’t currently available.
What documents are needed along with the AIA G702?
It is recommended to attach any necessary change orders or additional documentation that supports your payment application.
