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CERTIFICATION OF PROGRESS PAYMENTS UNDER FIXEDPRICE CONSTRUCTION CONTRACTS BASED ON A PERCENTAGE OR STAGE OF COMPLETION (NOV 2014) SECTION 1 IDENTIFICATION INFORMATION 1. TO: NAME AND ADDRESS OF CONTRACTING
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How to fill out certification of progress payments
How to fill out certification of progress payments:
01
Start by inputting the project name and any relevant identification numbers or codes.
02
Specify the period covered by the certification, including the start and end dates.
03
Provide a breakdown of the progress made during the specified period, including the tasks completed, the quantity of work done, and any milestones reached.
04
Calculate the total amount due for the progress made and enter it in the appropriate section of the certification form.
05
Verify the accuracy of the calculations and double-check all the information provided.
06
Sign and date the certification form to validate its authenticity.
07
Submit the completed certification of progress payments to the designated authority or organization.
Who needs certification of progress payments:
01
Contractors: Construction companies, builders, and other contractors who are engaged in projects that require periodic payments based on progress made often need certification of progress payments.
02
Clients or Project Owners: Individuals or organizations that have commissioned a project and are responsible for making payments based on the progress of the work often require certification of progress payments to ensure transparency and accurate billing.
03
Funding Agencies: If a project is being financed by a funding agency, they may require certification of progress payments to track disbursements and ensure that the project is progressing as planned.
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What is certification of progress payments?
Certification of progress payments is a document signed by a contractor or subcontractor verifying the progress of work completed on a project and requesting payment.
Who is required to file certification of progress payments?
Contractors and subcontractors are required to file certification of progress payments.
How to fill out certification of progress payments?
Certification of progress payments should be filled out with accurate information about the progress of work completed, including dates, percentage of completion, and any additional supporting documentation.
What is the purpose of certification of progress payments?
The purpose of certification of progress payments is to ensure that contractors and subcontractors are paid for the work completed on a project according to the agreed upon terms.
What information must be reported on certification of progress payments?
Information such as dates of work completed, percentage of completion, payments received to date, and any supporting documentation must be reported on certification of progress payments.
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