When To Use
Use G702GMP™ when a contractor on a cost-of-the-work project with a Guaranteed Maximum Price needs to apply for a progress payment. This document is suitable for any project size.
What It Does
G702GMP provides contractors with a structured format for requesting progress payments and architects with a framework for certifying amounts due. It pairs with the G703GMP Continuation Sheet to provide owners and architects with a transparent record of project costs to date. This pay application should be used when the parties intend to show how actual costs differ from estimated costs and where funds may have been shifted or reallocated between line items via the Continuation Sheet.
Additional Information
This form is a tailored update for G702, designed specifically for GMP cost-of-the-work. It is commonly referred to as an AIA billing form, progress billing form, or pay app.
