Project Manual 11-210C - Ramapo College of New Jersey

SECTION 01 29 00 – PAYMENT PROCEDURES
h. Percentage of Contract Sum to the nearest one-hundredth percent, adjusted to total 100
percent.
3. Provide a breakdown of the Contract Sum in sufficient detail to facilitate continued evaluation of
Applications for Payment and progress reports. Break principal subcontract amounts down into
several line items. Round amounts off to the nearest whole dollar; the total shall equal the
Contract Sum.
4. For each part of the Work where an Application for Payment may include materials or equipment,
purchased or fabricated and stored, but not yet installed, provide separate line items on the
Schedule of Values for initial cost of the materials, for each subsequent stage of completion, and
for total installed value of that part of the Work.
5. Tabulate schedule of values into subcontracts and trades for each of which the quantity, labor,
materials, other cost and resulting final cost per unit shall be indicated. Quantity, labor, materials,
other cost and cost per unit generally include but are not necessarily limited to the following:
a. Quantity; total number of times for each portion or unit of work as determined from the
Contract Documents.
b. Labor; on site labor for the handling and installation of material from point of delivery at
site.
c. Material; cost of materials as delivered to the site for installation and erection.
d. Other cost; rental equipment, depreciation, site office, administration, overhead and profit,
testing, survey and layout, samples and all other costs not included in labor and material.
e. Cost per unit; total of labor, material and other Cost for each portion or unit of work
derived from the total quantity of same.
1.3 APPLICATIONS FOR PAYMENT:
A. The Contractor's monthly application for payment shall be in the same schedule form as the schedule of
values, reflecting the same items. Unit costs shall be realistic for their part of the work.
B. Each Application for Payment shall be consistent with previous applications and payments as approved
by and paid for by the Owner.
1. The initial Application for Payment, the Application for Payment at time of Substantial
Completion, and the final Application for Payment involve additional requirements.
C. Payment Application Times: The date for each progress payment application shall be decided in the
pre-construction meeting. The period of construction Work covered by each Application for Payment is
the last day of the month for each progress payment and starting the day following the end of the
preceding period.
D. Payment Application Forms: Use AIA Document G 702/CMa and Continuation Sheets G 703/CMa as
the form for Application for Payment.
E. Application Preparation: Complete every entry on the form, including notarization and execution by
person authorized to sign legal documents on behalf of the Contractor. Incomplete applications will be
returned without action.
Ramapo College of New Jersey
01 29 00 PAYMENT PROCEDURES
E-Wing Renovation for Teacher’s Education Page 2 of 6
RCNJ Project No. 11-210C
Prepared by:
Cambridge Construction Management