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Schedule G PROGRESS PAYMENT FORM FOR PRIME CONTRACTORS/CONSULTANTS For use by all city agencies and departments for construction and professional services contracts. To be completed by the prime contractor/consultant.

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How to fill out the Progress Payment Form online

Completing the Progress Payment Form online is essential for prime contractors and consultants seeking payment for their services. This guide will assist you in accurately filling out each section of the form, ensuring a smooth and efficient submission process.

Follow the steps to successfully complete the Progress Payment Form.

  1. Click the ‘Get Form’ button to obtain the form and open it in the editor.
  2. Enter the project name in the designated field. Ensure that this reflects the exact name used in your contract.
  3. Fill in your name as the prime contractor or consultant in the appropriate section to identify who is submitting the request.
  4. Enter the project number as provided in your contract documentation to help streamline processing.
  5. Input the address where you can be reached. Include complete details to avoid any communication issues.
  6. Provide your phone number for any necessary follow-up communication regarding your payment request.
  7. List subcontractors, sub-consultants, and suppliers or services engaged in this project. This detail is crucial for transparency.
  8. Enter the original contract amount in the specified field, reflecting the total agreed upon before any changes.
  9. Document any change order amounts. This will show adjustments made to the original contract amount.
  10. Calculate and enter the total contract amount by summing up the original contract amount and any change orders.
  11. Indicate the total payments made to date within the designated field.
  12. Specify the payment amount being requested for this period to clearly define your current needs.
  13. Calculate and enter the balance remaining in the project. This helps track overall project finances.
  14. Review all the entered information for accuracy ensuring its correctness under penalty of perjury.
  15. Sign and date the form in the specified section, providing your name and title clearly.
  16. Once completed, you can save changes, download a copy, print it for your records, or share it as required.

Begin your online submission process today by filling out the Progress Payment Form.

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In the construction industry, a progress payment is a partial payment made to a business or contractor after the completion of a predefined stage of work — for example, a demolition or the addition of a roof and siding.

b) How are progress payments handled? Most construction factoring companies handle progress payments through a modified invoice verification process. Factoring companies always verify invoices to ensure the work has been completed and is due to be paid.

Progress billing is calculated on a to-date basis by multiplying the project's percentage complete by the total project price. As it meets milestones, the contractor submits an invoice for completed work. As long as the customer is satisfied with the quality of the product, it makes the payment.

A progress payment is a partial payment approach identified in a contract related to steps or phases toward the completion of the contract for goods and/or services. Use of this payment approach can require withhold of a percentage of payment pending completion of the entire contract and a bond.

A progress payment is a partial payment approach identified in a contract related to steps or phases toward the completion of the contract for goods and/or services. Use of this payment approach can require withhold of a percentage of payment pending completion of the entire contract and a bond.

Progress billing is calculated on a to-date basis by multiplying the project's percentage complete by the total project price. As it meets milestones, the contractor submits an invoice for completed work. As long as the customer is satisfied with the quality of the product, it makes the payment.

Progress payments must be commensurate with the fair value of work accomplished in ance with contract requirements. The contracting officer must adjust progress payments when necessary to ensure that the fair value of undelivered work equals or exceeds the amount of unliquidated progress payments.

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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