I have a General Contractor asking for an AIA form filled out for just a retainage. How do I do this?
Give my office a call. 2607821712. Regards, Nick
Good morning. If you have been using AIA G702 documents as your pay applications in the past, then the breakdown would be as follows.
Your most recent payment application should have listed all of your scopes of work as 100% complete (but also withheld retainage). On your most recent pay application you would have included an amount in Line 5 of the application (for retainage withheld). On the final pay application, just skip line 5. Include the entire amount of your contract in line 6, less the amounts of your previous pay apps on line 7, which should lead you to the retainage amount on line 8. Be sure that line 8 on your retainage pay app matches up with line 6 from your previous pay app.