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Get Progress Payment Request - Bonlinebbfnbbbcobbzab
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How to use or fill out the PROGRESS PAYMENT REQUEST - Bonlinebbfnbbbcobbzab online
Filling out the PROGRESS PAYMENT REQUEST accurately is essential for ensuring timely processing of payment requests related to building loans. This guide will walk you through each section of the form in a straightforward manner.
Follow the steps to complete your payment request form effectively.
- Click ‘Get Form’ button to obtain the form and open it in the editor.
- Begin by filling out Section A titled 'Applicant details.' Provide your name as the account holder, your building loan account number, and a brief description of the property in question.
- In the same section, request a payment amount by specifying the total amount and then subtracting any retention monies if applicable.
- Proceed to Section B - Agreement. Here, confirm the conditions of the building work on the property and your responsibility for compliance with regulations and the satisfaction of work completed to date.
- In Section C - Customer Instruction, acknowledge the risks associated with the payment and authorize the lender to process the payment request.
- Move on to Section D - Payment Details. Enter the name of the payee, their bank name, account number, and branch information for the payment transfer.
- Lastly, complete Section E - Customer Acknowledgement. Sign and date the form, ensuring all relevant parties, such as builders and professionals, provide their signatures and necessary details.
- Once all sections are completed, you can save changes, download the document, print it, or share it as needed.
Start filling out your PROGRESS PAYMENT REQUEST online today for a streamlined payment process.
Progress payments can be based on costs incurred by the contractor or the amount of work accomplished. On the other hand, advance payments are funds provided to the contractor before work begins.
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