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Oject. Subcontractor hereby waives and releases Capstone Building Corp., its surety, agents, and any other affiliated company from any and all claims disputes of controversies of whatsoever kind or nature which related to this Contract, and acknowledges that no other monies are due and owing, or are claimed to be due and owing from Capstone Building Corp., relating to this contract or breach thereof, except for those monies specifically listed below (identify any and all disputes). DESCRIPTION.

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Payment Application Definition. The Payment Application Screen processes formal written requests for payment by a contractor for work completed on a construction contract. Payment applications are processed by contract line item, each of which is associated to a capital project component.

The invoice includes a detailed description of the goods or services provided, the quantity, the agreed price, and the total amount due. An Application for Payment is a document that a contractor or subcontractor sends to the client or main contractor to request payment for work that has been completed.

Payment applications are more complex than a simple invoice, requiring multiple pieces of documentation to prove the legitimacy and validity behind the request for payment.

Application for Payment: General Form Forms: G702 Application and Certificate for Payment: Serves as the request for payment by the contractor and includes a certification by the architect to determine whether payment is approved.

Fixed Price, or Lump Sum Perhaps the simplest and most commonly used payment mechanism is the fixed-price, or lump-sum, contract. Under this method, the contractor proposes the price to the party seeking the work (likely an owner or tenant) after estimating its costs and adding a profit margin.

At its core, the pay application and the invoice serve very similar functions. They are both a request by one party for payment from another party. However, compared to a pay application, an invoice is incredibly simple and basic.

2:59 9:44 How to fill out the G702 Application & Certificate for Payment YouTube Start of suggested clip End of suggested clip But keep in mind that if line two is a negative number adding it to line one should reduce the totalMoreBut keep in mind that if line two is a negative number adding it to line one should reduce the total. Amount. So the result that you get is the total amount that you expect to be paid.

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© Copyright 1997-2025
airSlate Legal Forms, Inc.
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Form Packages
Adoption
Bankruptcy
Contractors
Divorce
Home Sales
Employment
Identity Theft
Incorporation
Landlord Tenant
Living Trust
Name Change
Personal Planning
Small Business
Wills & Estates
Packages A-Z
Form Categories
Affidavits
Bankruptcy
Bill of Sale
Corporate - LLC
Divorce
Employment
Identity Theft
Internet Technology
Landlord Tenant
Living Wills
Name Change
Power of Attorney
Real Estate
Small Estates
Wills
All Forms
Forms A-Z
Form Library
Customer Service
Terms of Service
DMCA Policy
About Us
Blog
Affiliates
Contact Us
Privacy Notice
Delete My Account
Site Map
All Forms
Search all Forms
Industries
Forms in Spanish
Localized Forms
Legal Guides
Real Estate Handbook
All Guides
Prepared for You
Notarize
Incorporation services
Our Customers
For Consumers
For Small Business
For Attorneys
Our Sites
US Legal Forms
USLegal
FormsPass
pdfFiller
signNow
airSlate workflows
DocHub
Instapage
Social Media
Call us now toll free:
1-877-389-0141
As seen in:
  • USA Today logo picture
  • CBC News logo picture
  • LA Times logo picture
  • The Washington Post logo picture
  • AP logo picture
  • Forbes logo picture
© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232