What is an Application for Payment of Contract?
An Application for Payment of Contract is a useful tool for independent contractors, since it allows you to complete a payment request form for work you've finished on a project. The payment application works like an invoice, in that you can use it at the end of an entire job, or for various stages of a long-term project. If you use sub-contractors, you'll also be able to detail the exact amounts owed to each one. When creating your Payment Request, you'll want to include details like: the payment application number; the period covered by the application; the total contract price in the original contract; the name of the project; the name of the contractor; who's responsible for paying the contractor; and other details of the amount due.
When to use an Application for Payment of Contract:
- You are a contractor who needs to request payment for work completed.
Application for Payment of Contract
Payment Amount Requested for work completed during the period from to in accordance with contract dated in the amount of for work on the following project: