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Track 01 · 5 lessons

Billing basics

How a contract turns into cash: the schedule of values, the AIA G702/G703 pay app, retainage, lien waivers and the timing of money in.

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Lessons

  1. Lesson 1 · doneThe schedule of values The schedule of values splits the contract into billable lines. Learn how it is built, why it is approved up front and how front-loading backfires.Do it: template
  2. Lesson 2 · doneThe G702/G703 pay app How the AIA G702 summary and G703 continuation sheet fit together, line by line, from work this period to current payment due.Do it: explainer
  3. Lesson 3 · doneRetainage, held and released What retainage is, how a reduction after 50% complete works, and why retainage is earned revenue you have not collected yet.Do it: calculator
  4. Lesson 4 · doneLien waivers Conditional vs unconditional, progress vs final: the four lien waivers, when each is exchanged, and how to keep them from holding up payment.Do it: template
  5. Lesson 5 · doneWhen the cash actually arrives Billing is not cash. See how owner payment lag, retainage and pay-when-paid terms shape a job's cash curve and peak cash need.Do it: calculator

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os.construction · LearnTrack 01

Completion card

Your name

completed Billing basics in Construction finance, from field to ledger.

  • The schedule of values
  • The G702/G703 pay app
  • Retainage, held and released
  • Lien waivers
  • When the cash actually arrives

Not yet complete · Self-paced learning record, not an accredited certification.

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