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HOW IT WORKS
How it works
You've just completed a contracting project, and are ready to collect payment. Create an Application for Payment of Contract to help protect your rights and responsibilities while getting compensated for your work. You'll want to get it done as soon as you finish the job, so that you can refer to your records if any questions about payment come up.
An Application for Payment of Contract is a useful tool for independent contractors, since it allows you to request payment for work you've completed on a project. The 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 Application for Payment of Contract, 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.
Other names for this document: Application for Payment of Agreement, Contractor's Application for Payment of Contract
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