What forms are used for AIA billing?

The AIA G702 (Application and Certificate for Payment) and the G703 (Continuation Sheet). The G702 is the certified cover sheet, and the G703 is the line-item detail behind it.

What is retainage in AIA billing?

Retainage is a percentage of each payment, typically 5 to 10 percent, that the owner holds back until the project is complete. It is tracked on every application and released at the end.

What is a schedule of values?

It is the agreed breakdown of the total contract into individual line items. Every AIA pay application bills against it by percent complete.

Is AIA billing required?

It is not a law, but it is the standard on most commercial and public construction projects, and many contracts specify it. If you work on those jobs, you will use it.

How do you speed up AIA billing?

Stop running it by hand. Connect your field progress to your billing so pay applications draft from real data, keep change orders and retainage in one system, and submit clean applications the first time so they are not kicked back.

What Is AIA Billing? A Contractor's Guide to G702 and G703 Pay Applications

AIA billing invoices construction projects by percent complete using the G702 and G703 forms. Here's how it works, why it stalls cash flow, and how to speed it

Growth Strategy