AIA Documents G702CW-2021, Application and Certificate for Payment for Cost of the Work Projects without a Guaranteed Maximum Price; G702®GMP-2021, Application and Certificate for Payment for Cost of the Work Projects with a Guaranteed Maximum Price; and G703®CW–2021, Continuation Sheet for Cost of the Work Projects are forms on which a contractor can apply for payment, and an architect can certify payments are due, on a project where the basis of payment to the contractor is the cost of the work plus a fee.
G702GMP-2021 should be used on cost of the work projects that have a guaranteed maximum price, while G702CW-2021 should be used on cost of the work projects that do not have a guaranteed maximum price.
G702CW-2021, G702GMP-2021, and G70®CW–2021 are not intended to replace AIA Documents G702-1992, Application and Certificate for Payment and G703-1992, Continuation Sheet. Rather, they are modified specifically tailored for cost of the work projects.
G702CW-2021, G702GMP-2021, and G703CW–2021 should be used on cost of the work projects where the parties intend to show, through the continuation sheet, how actual costs differ from estimated costs and where funds may have been shifted or reallocated between line items in each application for payment. The AIA does not publish a standard schedule of values form, although the G703-1992 and G703CW–2021 continuation sheets are often referred to as a schedule of values.
Like the G702-1992 and G703-1992, these forms require the contractor to show the status of the contract sum to date, including the total dollar amount of the work completed and stored to date, the amount of retainage (if any), the total of previous payments, and the amount of current payment requested. For each portion of the work, G703CW–2021 requires the contractor to show the original estimated value (column C1), the change in value from previous applications (column C2), the change in value in this pay period (column C3), and the current value (column C4).
Completing G702GMP -2021.
After the contractor has completed G703CW-2021, Continuation Sheet, summary information should be transferred to document G702GMP-2021. The contractor should sign G702GMP-2021, have it notarized, and submit it, together with G703CW-2021, to the architect. The architect should review G702GMP-2021 and G703CW-2021 and, if they are acceptable, complete the Architect’s Certificate for Payment on G702GMP-2021.
The architect may certify a different amount than that applied for, pursuant to Sections 9.5 and 9.6 of AIA Document A201®. The architect should then initial all figures on G702GMP-2021 and G703CW-2021 that have been changed to conform to the amount certified and attach an explanation. The completed G702GMP-2021 and G703CW-2021 should be forwarded to the owner.
The owner should make payment directly to the contractor based on the amount certified by the architect on AIA Document G702GMP-2021. The completed form contains the name and address of the Contractor. Payment should not be made to any other party unless specifically indicated on 702®GMP-2021.
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