DSLBD Office Fit Out - Broughton Construction Company

SECTION 01 20 00 - PRICE and PAYMENT PROCEDURES
PART 1 - GENERAL
1.01 SUMMARY
A. Work Included:
1. Schedule of Values
2. Applications for Payment
3. Change Order Procedures
4. Allowances
5. Alternates
1.02 SCHEDULE OF VALUES
A. Procedures:
1. At least 15 days prior to first Application for Payment, submit to Architect a Schedule of Values
allocated to various portions of Work.
2. Prepare schedule in such form, and supported by such reasonable data to substantiate it. This
schedule, unless objected to by Architect or Owner, shall be used only as a basis for Applications
for Payment.
B. Format:
1. Schedule of Values shall in general follow sequence of sections in Specifications. Identify each line
item with section number and title as listed in Table of Contents of this Project Manual.
2. In addition to line item costs of sections listed, list line item costs for each of following:
a. Performance and Payment Bonds (when applicable)
b. Contractor's fee
c. Field supervision
3. Prorate costs, such as costs of overhead, insurance, taxes, warranties and record drawings,
through life of Contract.
4. Estimated values of each principal category of Work shall, when added together, equal total
Contract Sum.
5. For each line item which has an installed value greater than $20,000, break down costs to list
major products or operations under each item.
1.03 APPLICATIONS FOR PAYMENT
A. Draft Applications:
1. Prepare a draft copy of each application for review.
2. Contractor and Architect shall schedule a "walk-through" of Project and review of draft
approximately 3 days prior to submission of Application for Payment.
3. Modifications and revisions made during review of draft shall be incorporated into Application for
Payment.
B. Format:
1. Form to be used shall be AIA G702 - Application and Certificate for Payment; including continuation
sheets when required.
C. Preparation of Applications:
1. Present required information in a typewritten form or electronic media printout.
2. Execute certification by signature of authorized officer.
3. Stored products may be included upon prior agreement and in accordance with criteria established
by Owner.
PRICE and PAYMENT PROCEDURES 01 20 00-1