AIA G702/G703 billing

AIA G702/G703 billing is the standard progress-billing format published by the American Institute of Architects for construction contracts. The G702, Application and Certificate for Payment, is the cover sheet: it summarizes the contract sum, approved change orders, total completed and stored to date, retainage withheld, previous payments and the current amount due, and carries the contractor's certification and the architect's approval. The G703, Continuation Sheet, backs it up line by line: each schedule-of-values item shows its scheduled value, work completed this period and previously, materials stored, percent complete and retainage. Owners and architects expect this format because it makes each month's request auditable against the schedule of values. Construction billing software typically generates G702/G703-style applications automatically from job progress data.

Related term: Retainage