Construction companies normally submit Payment application every month as per the contract agreement. Until completion of the project, they get part payment from their client after submission of claim which is duly approved and certified by project consultant. Project QS collect all the relevant work details and progress percentage from the field engineers in close coordination with Project Manager.
A sample excel format for payment application given here. It has to be submitted along with relevant supportive documents, progress report and details of materials delivered at the site. Following are the important details to be furnished in the format:
Important Data to be Shown in The Payment Application
This format has the following important data with respect to the contract agreement:
- Payment Application Number - a sequential number start from 1 and incremented 1 to every new.
- Whether the application is interim or Penultimate or Final
- Contract specific data extracted from the contract agreement
- Summary of Valuation - all the money matters to be reflected here such as claim amount and work done in the current month, Adjustments, Provisional sums, Materials on site, Retention, Advance (Payment or deduction), Previous and net claim of this application.