Get the free EXHIBIT M - PAYMENT APPLICATION FOR CHANGE ORDER

This document serves as a payment application for change orders associated with construction contracts, detailing estimates, materials stored, and calculations of liquidated damages and reserves.

How to fill out exhibit m - payment

How to fill out EXHIBIT M - PAYMENT APPLICATION FOR CHANGE ORDER

1. Start by downloading or accessing the EXHIBIT M form.
2. Review the instructions provided to ensure you understand the requirements.
3. Fill in the project name and contract number at the top of the form.
4. Provide the date of the change order application submission.
5. List the change order number and description of the work that is being claimed.
6. Include the original contract amount and the total amount of previous applications.
7. Indicate the current change order amount being requested.
8. Calculate the new contract total by adding the current change order amount to the original contract amount.
9. Attach supporting documentation such as invoices, quotes, and any other relevant evidence.
10. Review the completed form for accuracy before submission.
11. Sign and date the form at the bottom.

Who needs EXHIBIT M - PAYMENT APPLICATION FOR CHANGE ORDER?

1. Contractors who are seeking payment for additional work done as per change orders.
2. Project managers overseeing contract modifications and financial aspects of construction projects.
3. Clients or owners who require formal documentation for change order payments.

People Also Ask about

How to write a change request form?

The form contains the name of the person requesting the change, a description of the proposed change, and the date of the request. In some cases, a change request form also includes a description of how the change is likely to affect the scope, risk, quality, cost, and duration of the project if it's implemented.

How to write a change order request?

At a minimum, all change order forms should identify the following: The name and address of the project. The owner's name. The name and phone number of the person requesting the change. A complete description of the planned work. The price of the change (including a breakdown of the costs as well as the total)

What is an example of a change order?

In a residential construction project, the homeowner decides to upgrade the kitchen countertops from laminate to granite after the contract is signed. The construction manager issues a change order that details the change in materials, the additional cost involved, and the impact on the project timeline.

What is the cost of a change order?

Research indicates that on major projects, change order costs can represent 10 to 15 percent of the contract value, and a higher frequency of changes can reduce productivity by 10 to 30 percent. The timing of a change order also plays a critical role in its cost impact.

What is a payment application?

Rather than just a simple invoice, payment applications include multiple forms and supporting documentation that prove what work was completed, which materials were used, and what payment is due.

How to properly write a change order?

At a minimum, all change order forms should identify the following: The name and address of the project. The owner's name. The name and phone number of the person requesting the change. A complete description of the planned work. The price of the change (including a breakdown of the costs as well as the total)

How do I ask for a change order?

Submitting a request for change order Typically, you'll want to send a request for information (RFI) to the GC or architect. This is a form you submit alerting them to the fact that you think a change is needed. Much like the RFP, you'll need to propose work that you will do to remedy the situation.

What is an acceptable change order percentage?

Change order percentages between 8.0 percent and 15.0 percent are usually considered acceptable and reasonable. Profit – The contractor's profit, as a percentage of the sum of the total direct and indirect costs, should be within a reasonable range.

For pdfFiller’s FAQs

What is EXHIBIT M - PAYMENT APPLICATION FOR CHANGE ORDER?

EXHIBIT M - PAYMENT APPLICATION FOR CHANGE ORDER is a formal document used in construction and contract management that details the financial implications of changes made to the original contract scope.

Who is required to file EXHIBIT M - PAYMENT APPLICATION FOR CHANGE ORDER?

Typically, contractors or subcontractors who are seeking additional payment due to changes in the project scope as outlined in the change order are required to file EXHIBIT M.

How to fill out EXHIBIT M - PAYMENT APPLICATION FOR CHANGE ORDER?

To fill out EXHIBIT M, one must provide detailed information about the change order, including the original contract amount, the cost associated with the change, and any documentation supporting the amount requested.

What is the purpose of EXHIBIT M - PAYMENT APPLICATION FOR CHANGE ORDER?

The purpose of EXHIBIT M is to formally request payment for changes to the contract, ensuring transparency and proper documentation for any additional costs incurred due to modifications in the project scope.

What information must be reported on EXHIBIT M - PAYMENT APPLICATION FOR CHANGE ORDER?

EXHIBIT M must report information such as project details, original contract amount, additional costs for the change order, adjusted contract amount, and any necessary supporting attachments that justify the changes.