Understanding the AIA G702 and G703 Forms

The AIA G702 Application and Certificate for Payment form is the go-to standard for applying for payments between contractors, subcontractors, employees, and other groups within a construction project. The G702 has a major impact on cash flow for all parties involved. These forms are the industry standard, which is why it is important that you have a good understanding of how payment applications work. In this article, we will outline the different types of forms, why they’re important, as well as what they look like.

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The Different Kinds of Forms

When dealing with payment applications, there are a variety of forms that you have to be familiar with. To make things easier for you, we have laid out a few common types. 

  1. The AIA G702 is an application filed by the contractor and is bundled with supporting documentation. Once it is certified by the architect, payment will be sent to the contractor.
  2. Next, is the AIA G703 Continuation Sheet. The G702 and G703 are used together to help keep projects on track. The G703 takes the contract and splits it into separated portions of work using a schedule of values (described below). Once approved, the client will send the billable amount.
  3. A schedule of values is a detailed list of every task alongside its price for a project.

These forms are common to most construction projects so it’s important to be familiar with them. They are verified by the architects, contractors, and clients, and represent a formal account of the w