012900Proj. No. 10105 Residence Conversions October 7, 2011
58 Kensington, 57 Dryads Green, 72 Dryads Green
Smith College, Northampton, MA
PAYMENT PROCEDURES Page 1 of 4 012900
SECTION 012900 -PAYMENT PROCEDURES
PART 1 -GENERAL
1.1 RELATED DOCUMENTS
A.Drawings and general provisions of the Contract, including General and
Supplementary Conditions and other Division 01 Specification Sections, apply
to this Section.
1.2 SUMMARY
A.This Section specifies administrative and procedural requirements necessary to
prepare and process Applications for Payment.
1.3 DEFINITIONS
A.Schedule of Values: A statement furnished by Contractor allocating portions of
the Contract Sum to various portions of the Work and used as the basis for
reviewing Contractor's Applications for Payment.
1.4 SCHEDULE OF VALUES
A.Coordination: Coordinate preparation of the Schedule of Values with
preparation of Contractor's Construction Schedule.
1.Correlate line items in the Schedule of Values with other required
administrative forms and schedules, including the following:
a.Application for Payment forms with Continuation Sheets.
b.Submittals Schedule.
c.Contractor's Construction Schedule.
2.Submit the Schedule of Values to Architect at earliest possible date but
no later than seven days before the date scheduled for submittal of initial
Applications for Payment.
Proj. No. 10105 Residence Conversions October 7, 2011
58 Kensington, 57 Dryads Green, 72 Dryads Green
Smith College, Northampton, MA
PAYMENT PROCEDURES Page 2 of 4 012900
B.Format and Content: Use the Project Manual table of contents as a guide to
establish line items for the Schedule of Values. Provide at least one line item
for each Specification Section.
1.Identification: Include the following Project identification on the Schedule
of Values:
a.Project name and location.
b.Name of Architect.
c.Contractor's name and address.
d.Date of submittal.
2.Submit draft of AIA Document G703 Continuation Sheets.
3.Round amounts to nearest whole dollar; total shall equal the Contract
Sum.
4.Each item in the Schedule of Values and Applications for Payment shall be
complete. Include total cost and proportionate share of general overhead
and profit for each item.
a.Temporary facilities and other major cost items that are not direct
cost of actual work-in-place may be shown either as separate line
items in the Schedule of Values or distributed as general overhead
expense, at Contractor's option.
5.Schedule Updating: Update and resubmit the Schedule of Values before
the next Applications for Payment when Change Orders or Construction
Change Directives result in a change in the Contract Sum.
1.5 APPLICATIONS FOR PAYMENT
A.Each Application for Payment shall be consistent with previous applications
and payments as certified by Architect and paid for by Owner.
1.Initial Application for Payment, Application for Payment at time of
Substantial Completion, and final Application for Payment involve
additional requirements.
Proj. No. 10105 Residence Conversions October 7, 2011
58 Kensington, 57 Dryads Green, 72 Dryads Green
Smith College, Northampton, MA
PAYMENT PROCEDURES Page 3 of 4 012900
B.Payment Application Times: Progress payments shall be submitted to Architect
by the fifth day of the month. The period covered by each Application for
Payment is one month, ending on the last day of the month.
C.Payment Application Forms: Use AIA Document G702 and AIA Document G703
Continuation Sheets as form for Applications for Payment.
D.Application Preparation: Complete every entry on form. Notarize and execute
by a person authorized to sign legal documents on behalf of Contractor.
Architect will return incomplete applications without action.
1.Entries shall match data on the Schedule of Values and Contractor's
Construction Schedule. Use updated schedules if revisions were made.
2.Include amounts of Change Orders and Construction Change Directives
issued before last day of construction period covered by application.
E.Transmittal: Submit 3 signed and notarized original copies of each Application
for Payment to Architect. One copy shall include waivers of lien and similar
attachments if required.
F.Initial Application for Payment: Administrative actions and submittals that
must precede or coincide with submittal of first Application for Payment
include the following:
1.List of subcontractors.
2.Schedule of Values.
3.List of Contractor's staff assignments.
4.Copies of authorizations and licenses from authorities having jurisdiction
for performance of the Work.
5.Certificates of insurance and insurance policies.
G.Application for Payment at Substantial Completion: After issuing the
Certificate of Substantial Completion, submit an Application for Payment
showing 100 percent completion for portion of the Work claimed as
substantially complete.
H.Final Payment Application: Submit final Application for Payment with releases
and supporting documentation not previously submitted and accepted,
including, but not limited, to the following:
Proj. No. 10105 Residence Conversions October 7, 2011
58 Kensington, 57 Dryads Green, 72 Dryads Green
Smith College, Northampton, MA
PAYMENT PROCEDURES Page 4 of 4 012900
1.Evidence of completion of Project closeout requirements.
2.Insurance certificates for products and completed operations where
required and proof that taxes, fees, and similar obligations were paid.
3.Updated final statement, accounting for final changes to the Contract
Sum.
4.AIA Document G706, "Contractor's Affidavit of Payment of Debts and
Claims."
5.AIA Document G706A, "Contractor's Affidavit of Release of Liens."
PART 2 -PRODUCTS (Not Used)
PART 3 -EXECUTION (Not Used)
END OF SECTION 012900