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OFFICE MEMORANDUM Michigan Department of Transportation DATE: October 10, 2012, TO: Region Engineers Region Associate Operations Engineers Region Construction Engineers TSC Managers TSC Construction
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How to fill out timely progress payments to
How to fill out timely progress payments to:
01
Gather all necessary information and documents, including the project contract, payment schedule, and any supporting documents or invoices.
02
Review the payment schedule and determine the amount of progress payment due based on the completed work or milestones achieved.
03
Calculate the percentage or dollar amount of progress payment to be made for each completed task or milestone.
04
Prepare a progress payment request form or invoice, including all relevant details such as project name, contractor information, payment due date, and payment amount.
05
Attach any required supporting documents or invoices to the progress payment request form.
06
Double-check all information and calculations for accuracy and completeness.
07
Submit the progress payment request form along with any supporting documents to the appropriate party, typically the project owner or main contractor.
08
Follow up with the recipient to ensure they have received the payment request.
09
Keep a record of the payment request and any communication related to it for future reference or auditing purposes.
Who needs timely progress payments to:
01
Contractors or subcontractors who are working on a project with a payment schedule that includes progress payments.
02
Project owners or main contractors who want to ensure that payments are made in a timely manner based on the completed work or milestones achieved.
03
Construction companies or other businesses that rely on progress payments to fund ongoing projects and cover expenses.
04
Government agencies or organizations that manage public infrastructure projects and require progress payments to ensure accountability and quality control.
05
Clients or customers who have agreed to a payment schedule that includes progress payments as a way to effectively manage the project budget and cash flow.
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What is timely progress payments to?
Timely progress payments refer to payments made on schedule as work progresses.
Who is required to file timely progress payments to?
Contractors or subcontractors who have agreed to receive progress payments are required to file timely progress payments.
How to fill out timely progress payments to?
Timely progress payments can be filled out by submitting the necessary forms and documentation detailing the work completed and requesting payment for the completed milestones.
What is the purpose of timely progress payments to?
The purpose of timely progress payments is to ensure that contractors and subcontractors are paid for the work they have completed at regular intervals throughout the project.
What information must be reported on timely progress payments to?
Information such as the percentage of work completed, materials used, labor hours worked, and any change orders must be reported on timely progress payments.
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