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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

How to fill out certification of progress payments

How to fill out certification of progress payments

1. Start by collecting all the necessary documents and information related to the progress of the project.
2. Review the contract or agreement between the parties involved to understand the specific requirements for the certification of progress payments.
3. Identify the milestones or stages of the project that will trigger progress payments.
4. Verify the completion of each milestone by conducting site visits or inspections, and gather any supporting documentation or reports.
5. Calculate the value of the work completed for each milestone based on the agreed-upon payment terms.
6. Prepare the certification of progress payments form, including details such as the project name, contractor information, payment schedule, and the amount to be certified for each milestone.
7. Ensure the accuracy of the calculations and information provided on the form.
8. Obtain the necessary approvals or certifications from the project owner or relevant authorities.
9. Submit the completed certification of progress payments form to the appropriate party according to the agreed-upon procedure.
10. Keep records of all certifications and supporting documents for future reference or audits.

Who needs certification of progress payments?

1. Certification of progress payments is typically needed in construction projects or any other type of project where payments are made based on the completion of specific milestones.
2. The party responsible for making the payments, such as the project owner or client, usually requires the certification to ensure that the payments accurately reflect the progress of the work.
3. Contractors, subcontractors, and suppliers involved in the project may also need the certification as a documentation of their progress and to support their financial claims.

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What is certification of progress payments?

Certification of progress payments is a formal statement that confirms the progress made on a project and the amount due for payment at that stage, typically used in construction and contractual agreements.

Who is required to file certification of progress payments?

Generally, the contractor or service provider is required to file certification of progress payments to their client or project owner.

How to fill out certification of progress payments?

To fill out certification of progress payments, one should include project details, the payment request amount, details of work completed, and any relevant supporting documentation.

What is the purpose of certification of progress payments?

The purpose of certification of progress payments is to provide an official acknowledgment of work completed and to facilitate timely and appropriate payment to contractors for their services.

What information must be reported on certification of progress payments?

Information reported on certification of progress payments typically includes project name, invoice number, amounts due, work descriptions, dates of service, and signatures of involved parties.