I - IDENTIFICATION INFORMATION 1. TO: NAME AND ADDRESS OF CONTRACTING OFFICE ADMINISTERING THE CONTRACT (Include ZIP Code) 2. FROM: NAME AND ADDRESS OF CONTRACTOR (Include ZIP Code) 3. SMALL BUSINESS PAYING OFFICE YES NO 4. CONTRACT NUMBER A. BASIC CONTRACT NUMBER B. TASK OR DELIVERY ORDER NUMBER 5. CONTRACT PRICE $ 6. RATES 7. DATE OF INITIAL AWARD A. PROGRESS PAYMENTS B. LIQUIDATION % A. YEAR 8A. PROGRESS PAYMENT REQUEST NUMBER 8B. DATE OF THIS REQUEST B. MONTH % SECTION II.
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How to fill out the GSA SF 1443 online
The GSA SF 1443 is a crucial document used for contractor requests for progress payments. Filling it out accurately ensures smooth processing of your payment requests. This guide provides clear instructions to assist you in completing this form online.
Follow the steps to successfully complete the GSA SF 1443.
- Press the 'Get Form' button to access the GSA SF 1443 form in a suitable editor for online completion.
- Complete Section I by entering the identification information. Fill in the name and address of the contracting office in item 1, and your own name and address in item 2. Indicate if your business is a small business in item 3.
- In item 4, provide the contract number and, if applicable, the task or delivery order number. In item 5, enter the total contract price. Make sure to follow the guidance provided regarding different types of contracts.
- For items 6a and 6b, enter the respective progress payment and liquidation rates using the correct formats. Then, in item 7, enter the date of the initial award.
- Moving to Section II, note the date for cost accumulation. In item 11, compute and enter the eligible costs for progress payments. Items 12a and 12b require the total costs incurred to date and estimated costs to complete, respectively.
- Complete the calculations for items 14a through 14e based on financing payments to subcontractors. Ensure all computations are done accurately as specified in the form’s guidance.
- If applicable, complete Section III regarding advance payments and accepted items. Follow the specific instructions for selected line items concerning payments already made and owed.
- In the certification section, ensure that you verify all statements and provide the name and title of the contractor representative who is signing the form, along with their signature.
- Finally, review all entries for accuracy. Once complete, you can save the changes, download a copy for your records, print it for submission, or share it with the relevant parties.
Start filling out the GSA SF 1443 online today to ensure efficient processing of your payment requests.
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Get answers to your most pressing questions about US Legal Forms API.
What is an example of a progress payment?
The amount held back, frequently between 5% and 10%, should be specified in the construction contract. Retainage is typically deducted from each progress payment. For example, if a project calls for 10 payments of $50,000 and a 10% retainage is negotiated, then the owner pays $45,000 each time.
How do I account for progress payments?
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.
What is an example of progress payment?
The amount held back, frequently between 5% and 10%, should be specified in the construction contract. Retainage is typically deducted from each progress payment. For example, if a project calls for 10 payments of $50,000 and a 10% retainage is negotiated, then the owner pays $45,000 each time.
What is a 1443?
Standard Form 1443 - Contractor's Request for Progress Payment.
What is the difference between progress payment and advance payment?
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.
Which is the least preferred contract type?
The T&M contract type is the least preferred because it is the hardest to manage for both Government and contractor.
How does progress payments work?
A Progress Payment is a payment that is made to the borrowers' (you/your) builder at each stage of the construction process, or a payment made to a contractor or supplier when an invoice is to be paid during a renovation.
What is progress 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.
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