AIA G702 and G703 work together in a construction pay application, but they do different jobs. The G702 is the summary and certification page. The G703 is the line-item continuation sheet that shows where the money has been billed.
This practical comparison explains AIA G702 vs. G703, how the figures connect, and what owners, developers, and lenders should verify before approving a draw.
AIA G702 vs. G703: the difference at a glance
| Form | Primary purpose | What it shows |
|---|---|---|
| G702 | Application and certificate for payment | Contract-level summary: original contract, approved changes, completed and stored work, retainage, prior payments, current payment due, and balance to finish |
| G703 | Continuation sheet | Line-item detail by trade or schedule-of-values category: scheduled value, prior work, current work, stored materials, total completed, percent complete, and balance |
Put simply: the G703 builds the detail; the G702 reports the result. If the G703 does not reconcile to the G702, the pay application is not ready for approval.
What is the AIA G702?
The G702 is the top-level payment application. It summarizes the contract and calculates the amount currently due after accounting for approved change orders, completed work, stored materials, retainage, and previous payments.
Owners and lenders use the G702 to answer questions such as:
- What is the current contract sum?
- How much work and stored material has been billed to date?
- How much retainage is being withheld?
- How much has already been paid?
- What is the contractor requesting now?
- What balance remains, including retainage?
The form also includes the contractor’s certification and the architect’s certification where the project agreement requires architect review.
What is the AIA G703?
The G703 is the continuation sheet supporting the G702. It breaks the contract into schedule-of-values lines so reviewers can see how much has been billed against each scope category.
A useful G703 is specific enough to evaluate progress. A schedule containing only “general requirements,” “construction,” and “closeout” may add up mathematically but is too broad to verify in the field. Trade-level or work-package detail makes percent complete defensible.
How the G702 and G703 should reconcile
- Contract sum: the original contract plus approved changes on the G702 should equal the current total scheduled value represented in the G703.
- Completed and stored to date: the total of the completed-work and stored-material columns on the G703 should flow to the corresponding G702 total.
- Retainage: retainage calculated from the G703 detail should match the G702 summary, including any different retainage rates.
- Current payment due: completed and stored work less retainage and prior certificates should equal the current amount requested.
- Balance to finish: the remaining G703 line-item balances should support the balance reported on the G702.
Common G702/G703 errors
Unapproved changes included in the contract sum
Only approved changes should change the contract sum. Pending change orders belong in a separate log until the approval required by the contract is complete.
Stored materials counted twice
When materials are installed, their value should move from stored materials into completed work. Leaving the amount in both locations overstates progress.
Prior payments do not match the last certificate
The prior-certificate figure should carry forward from the previously approved payment. A mismatch may create a duplicate payment or an unexplained shortfall.
Retainage is calculated inconsistently
Projects may apply one rate to completed work, another to stored materials, or reduce retainage for selected trades. Whatever the contract requires must be applied consistently and documented.
Percent complete is based on invoices instead of progress
Supplier and subcontractor invoices are supporting documents, not automatic proof that the owner received the value billed. Field verification and a remaining-cost review still matter.
Documents that should accompany the pay application
- Executed change orders and a current change-order log
- Conditional and unconditional lien waivers required by the contract and applicable law
- Invoices supporting stored materials or reimbursable items
- Stored-material evidence, including location, photos, insurance, and ownership where required
- Updated construction schedule
- Progress photographs or draw-inspection report
- Testing, inspection, or permit documentation tied to the billed work
- Updated contingency and allowance logs
Owner and lender review checklist
- Do the G702 and G703 reconcile exactly?
- Does the current contract sum include only approved changes?
- Does field progress support the amount billed by line item?
- Are front-loaded lines, stored materials, and general conditions defensible?
- Are required waivers complete through the appropriate payment period?
- Does the remaining balance appear sufficient to complete each scope?
- Are schedule delays or quality deficiencies reflected in the recommendation?
Who prepares and who reviews the forms?
The contractor commonly prepares the payment application from its approved schedule of values. The architect may review and certify payment under the project agreements. The owner, lender, owner’s representative, or draw administrator may perform additional document and progress review before funds are released.
The contracts control the formal approval path. A clean process assigns responsibility for preparation, certification, lender inspection, owner approval, and final funding before the first draw.
Frequently asked questions
Can a project use a G702 without a G703?
A very small contract might be summarized without a multi-line continuation sheet, but most projects need the line-item detail to support the summary. Lender and contract requirements govern.
Is a schedule of values the same as the G703?
The approved schedule of values provides the line-item structure. The G703 applies current-period, prior-period, stored-material, retainage, and balance information to that structure for each pay application.
Does AIA G702/G703 replace lien waivers?
No. The payment application reports amounts requested and certified. Lien waivers address payment rights and should be tracked as separate required documents.
Can Epex take over a draw process mid-project?
Yes. The first step is a funded-to-date reconciliation against the current contract sum and schedule of values, followed by a review of change orders, waivers, stored materials, and prior payment records.
Make the next draw lender-ready
Epex Consulting provides construction draw administration for multifamily and commercial projects, including schedule-of-values reconciliation, lien-waiver tracking, lender coordination, and audit-ready files. Use our construction draw inspection checklist or review the Burgoyne Townhomes case study.
Book a free 20-minute project review and bring the current G702, G703, change-order log, and last approved draw.