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  • Schedule Of Values Template

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The primary purpose of a schedule of values is to function as a start-to-finish document that outlines everything the project will entail. A well thought out schedule of values will serve as the backbone of a contractor's billing process and becomes an invaluable management tool for any type of contractor.

What Should a Schedule of Values Include? Project name and number. Name of the prime or general contractor. Application number and date. Work item numbers. Description of work items. Total value of each item. Percentage of work completed. Value of work completed for past and current periods.

What is a schedule of values? A schedule of values is a document used by stakeholders on construction projects that lists the value and cost of every billable work item on a step-by-step timeline, and the percentage of the work completed to date.

How do you fill a schedule of values? The item's number. ... Enter details of work. ... Enter the values. ... Fill in the details of work completed. ... Next, fill in the values of the current phase that is starting or ongoing. ... Stored materials for non-completed work. ... Fill in the total value of material stored for completed work.

The Schedule of Values (SOV) is a document prepared by the Contractor and its Subcontractors to itemize the costs of each work item on a construction project. For most projects that is put together by the project manager and/or cost estimator.

A schedule of values: The schedule of values, or SOV, is a list of every work item on a construction job, along with each item's cost.

A schedule of values is a document submitted as part of the payment process on projects, and it assists with project management. It allocates the entire Contract Sum to various portions of the contractor's work that are detailed in the construction schedule.

To ensure that your SOV is as accurate as possible, consider the following steps. Step 1: Confirm the Contract Price. ... Step 2: Add Work Items. ... Step 3: Determine Each Item's Value. ... Step 4: Update As Work Is Completed. ... Step 5: Review and Confirm Values. ... Step 6: Submit With the Application for Payment.

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© Copyright 1997-2025
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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