When To Use
Use G703S™ when completing a G702S subcontractor payment application to provide the line-by-line breakdown of each portion of the work, its scheduled value, and completion status. It is prepared by the subcontractor as required by the General Conditions.
What It Does
G703S provides the line-by-line continuation sheet that supports each G702S payment application, specifically for the subcontractor to apply for payment from the general contractor. The subcontractor uses it to document scheduled values, completed work to date, stored materials, retainage, prior payments, change order summaries, and the current amount requested. It provides general contractors with the detailed breakdown needed to efficiently review and process subcontractor progress payment requests.
Additional Information
AIA does not publish a standard schedule of values form, though G703S is commonly referred to as the schedule of values.
