Facts about the aia g702 pdf PDF template
- 1 Facts about the aia g702 pdf PDF template
- 2 Filling Out a Free AIA G702 PDF Form
- 3 What is the AIA G702 PDF form used for?
- 4 Who would use the AIA G702 form?
- 5 When should you use the AIA G702 form?
- 6 Who should use the AIA G702 form?
- 7 What are the consequences for not using an AIA G702 form?
- 8 Steps for Filling Out an AIA G702 Form
- 9 Quick Questions
Filling Out a Free AIA G702 PDF Form
An AIA G702 PDF form can be used for the purpose of establishing agreements between contractors and architects prior to the completion of a new project. These forms are extremely helpful to all parties involved and often facilitate the billing process. If you are seeking to complete an AIA G702 PDF form for an upcoming project, here is some useful information about how the document works, its general purpose, and effective ways to fill out the form.
What is the AIA G702 PDF form used for?
The AIA G702 is a contractor’s application and certificate for payment and is generally used in agreements where contractors have agreements with property owners. This form is used in combination with the AIA G703 continuation form to cover project procedure terms, as well as legal terms of agreement regarding contracting for construction and managerial properties. Although there are instances where the AIA G702 form does not need to be used in combination with the 703 form, most architects and property owners will find that these forms are more beneficial when completed and submitted together.
The AIG G702 operates in a dual purpose by providing both the contractor’s request to receive remittance, in addition to the certification needed by the architect. The form’s completion greatly reduces the risk for error or late payments during contractural agreements.
Who would use the AIA G702 form?
The AIA G702 pdf form is used by architects who are crafting agreements between themselves and property owners. Because the document is used by architects, some property owners often express their belief that the AIA G702 form protects the architect more than the property owner in any given business arrangement. These fears can be alleviated, however, if the property owner simply utilizes legal aid when signing the AIA G702 contract. For additional protection, the American Institute of Architects utilizes standard agreements for both parties in the pdf document.
When should you use the AIA G702 form?
Architects should use the AIA G702 form primarily for the benefits and protections the document offers during the development of contractural arrangements. This form allows architects to streamline payment processes and contracted evaluations. Architects should use this form when wishing to avoid complications associated with payment issues.
Who should use the AIA G702 form?
Because this document is manufactured by the American Institute of Architects, it is designed to be used explicitly by architects who are developing contractual agreements with a second party. The forms can be utilized by other parties without any drastic detriment to the agreement process. Even when utilized in this manner, however, the document would still need to be approved officially by the architect brokering the deal.
What are the consequences for not using an AIA G702 form?
The consequences for not using an AIA G702 form are not dire and are, in fact, extremely manageable. The primary consequence for not utilizing this form is the complication of communication between an architect and a property owner or contractor on any given project. The AIA G702 form streamlines the process for payment and evaluation, but parties involved in a deal can mitigate risks associated with the neglect of this form by paying special attention to the contractual details regarding payment. If any party involved is not interested in micro managing the payment process, however, this form is valuable, specifically for implementing payment deadlines.
Steps for Filling Out an AIA G702 Form
If you’re interested in filling out an AIA G702 PDF form, here are a few easy steps to complete the process.
- Step 1 – Begin the process by ensuring that you are in possession of both the G702 and G703. These forms work together and must be submitted simultaneously to achieve the best results. Use software offered by the American Institute for Architects to fill out the form and it will automatically populate values for retention and will automatically transfer data entered into the correct positions on each of the forms.
- Step 2 – Using data stored by the architect about the current account, enter values for all the fields in red on the ALA G702 form. These values will automatically populate to the corresponding fields on the G703 page. Keep in mind that values for the original contract sum and the payment requests will be required so it is best to have these values calculated before beginning to complete the forms.
- Step 3 – Calculate and enter the Change Order Summary, which will also auto populate onto the G703 form. This step includes inputing values and short descriptions in appropriate columns. After manually entering these values, enter the calculated retainage amount.
- Step 4 – After entering the values, you will be able to complete the automated progress payments section of the form. After choosing your most recent pay application from the list, choose the, “progress payment,” option to allow the remaining fields to auto populate. Complete this step as many times as possible until all payment requests are included on the form.
- Step 5 – Next, input values on the change order section of both forms. These values will not automatically populate or transfer between orders, so they need to be manually added. The G702 form can be completed by adding values, while the G703 form requires that a new line item be added for each new value.
- Step 6 – Finish the process of filling out the forms by completing the final payment section. After selecting the most recent payment request from the list, choose the collect retention tab to auto populate values or the duplicate tab to include additional values.