What is a pay application?
A pay application (or 'draw') is a contractor's formal request for a progress payment, showing the work completed to date against the schedule of values.
On many projects this uses standardized forms (such as AIA G702/G703) that list each line of work, the percentage complete, retainage, and the amount due this period.
The architect or owner certifies the application before payment, and lien waivers are typically exchanged alongside it.
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