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SCHEDULE OF VALUES. Labor. Materials. Division 1 General Requirements: Permits and insurance. $. $. Testing and inspections. $. Equipment rentals. $. $ ...

How to fill out schedule of values this

Point by point, here are the steps to fill out a schedule of values:

1. Begin by gathering all the necessary information: Make sure you have the project details, such as the project name, address, and any relevant contract numbers.
2. Identify the categories: Divide the project into different categories, such as labor, materials, equipment, and subcontractors.
3. Determine the value for each category: Assign a dollar value to each category based on the estimated cost or the contract amount. This value represents the total amount allocated for each category.
4. Break down the categories into line items: Within each category, break down the work into specific line items. For example, under the labor category, you may have line items for carpentry, electrical, plumbing, etc.
5. Assign a value to each line item: Assign a dollar value to each line item based on the estimated cost or the contract amount. This value represents the amount allocated for each specific task or item.
6. Calculate the subtotal for each category: Add up the values of all the line items within each category to calculate the subtotal for that category.
7. Calculate the total schedule of values: Sum up the subtotals of all the categories to calculate the total schedule of values for the project.
8. Review and verify the information: Double-check all the values, line items, and categories to ensure accuracy and completeness.

Who needs a schedule of values?

A schedule of values is typically needed in construction projects, both large and small. It is often required by the project owner, general contractor, or a construction lender. It helps in tracking the progress of work, making payments, and ensuring that the project stays on budget. Subcontractors and vendors may also need a schedule of values to understand the payment milestones and deliverables.

For pdfFiller’s FAQs

What is schedule of values this?

The schedule of values is a document that outlines the breakdown of costs for a construction project.

Who is required to file schedule of values this?

Contractors and subcontractors are typically required to file a schedule of values for a construction project.

How to fill out schedule of values this?

To fill out a schedule of values, contractors and subcontractors need to itemize the costs associated with each component of the construction project.

What is the purpose of schedule of values this?

The purpose of a schedule of values is to provide an accurate and transparent breakdown of costs for a construction project.

What information must be reported on schedule of values this?

The schedule of values must report the costs associated with each component of the construction project, including materials, labor, and overhead expenses.

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