Pay application and retainage
Current payment due, retainage held and balance to finish, in the AIA G702 layout.
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- Your own numbers, worked out as often as you like
- The full pay application you can print or save to My work
- 5 cited sources, linked, with the checks to make
- Every other tool for the same role, in the same plan
- A plain-words read of your result (a fuller AI read with the Bifrost AI add-on)
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Example result · fictional numbers
What you get: pay application
Worked out by this tool from its default inputs. Its role plan lets you run your own numbers, print the sheet and save it.
$142,144.00 due this period, $58,016.00 retainage held, $775,856.00 left to finish
- Contract sum to date
- $1,298,000
- Total completed and stored
- $580,160
- Retainage held
- $58,016
- Total earned less retainage
- $522,144
- Current payment due
- $142,144
- Balance to finish incl. retainage
- $775,856
Continuation sheet
- 1. General conditions
- $98,000.00 scheduled · $40,000.00 before + $9,160.00 this period = $49,160.00 (50.2%) · balance $48,840.00 · retainage $4,916.00
- 2. Sitework
- $180,000.00 scheduled · $150,000.00 before + $20,000.00 this period = $170,000.00 (94.4%) · balance $10,000.00 · retainage $17,000.00
- 3. Concrete
- $420,000.00 scheduled · $180,000.00 before + $60,000.00 this period = $240,000.00 (57.1%) · balance $180,000.00 · retainage $24,000.00
- 4. Steel and framing
- $552,000.00 scheduled · $0.00 before + $50,000.00 this period + $35,000.00 stored = $85,000.00 (15.4%) · balance $467,000.00 · retainage $8,500.00
- 5. CO-01 Added storm drain
- $48,000.00 scheduled · $20,000.00 before + $16,000.00 this period = $36,000.00 (75.0%) · balance $12,000.00 · retainage $3,600.00
- Totals
- $1,298,000.00 scheduled · $390,000.00 before + $155,160.00 this period + $35,000.00 stored = $580,160.00 · retainage $58,016.00
Also on the sheet
- Check before you submit · 5 lines, starting with “Scheduled values”
- Retainage · 3 lines, starting with “Held on this application”
- Lien waivers and backup · 5 lines, starting with “With this application”
The plain-words read of this example
This application asks for $142,144.00: $580,160.00 completed and stored to date, less $58,016.00 retainage and the $380,000.00 already certified. Your 5-line schedule of values agrees with the summary. Send the conditional waiver for this amount with it, and check your state's retainage and prompt-payment rules (on federal jobs payment is due in 14 days).
5 cited sources
- Instructions: G702–1992, Application and Certificate for Payment (AIA Contract Documents)
- Summary: G702–1992, Application and Certificate for Payment (AIA Contract Documents)
- FAR 52.232-5, Payments under fixed-price construction contracts (Acquisition.gov (Federal Acquisition Regulation))
- FAR 52.232-27, Prompt payment for construction contracts (Acquisition.gov (Federal Acquisition Regulation))
- Retainage Law in the 50 States (American Subcontractors Association) (Building Design + Construction)
Plus 6 step-by-step checks, a print layout and a link that reopens it with your numbers.
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