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.
Free download: Schedule of Values & Pay Application Worksheet (Excel)
A G703-style line-item sheet that rolls up into a one-page application summary and flags the mistakes that cause overpayment: a contract sum that doesn’t match the schedule of values, mismatched retainage, lines billed over 100%, and pending change orders slipped into the total. It opens with a worked example you can overwrite.
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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.
Where to get the official AIA G702 and G703 forms
AIA publishes free, non-executable samples of both forms, which are useful for seeing the layout before you buy:
- AIA G702-1992 sample (PDF), the Application and Certificate for Payment
- AIA G703-1992 sample (PDF), the Continuation Sheet
To use the forms on a project, license them through AIA Contract Documents. Many lenders accept the contractor’s own pay-application format as long as it carries the same information. Check the loan agreement before assuming the official forms are required.
The standard G702 includes a notary block under the contractor’s certification. Whether notarization is actually required depends on your contract and lender. Don’t confuse this with Texas lien waivers, which no longer need to be notarized for original contracts entered into on or after January 1, 2022.
AIA G702 vs G703: how the two forms 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.
Worked example: how G703 lines become the G702 numbers
An illustrative restaurant build-out, pay application #3. The original contract is $480,000. Change order #1 (a larger grease interceptor, +$12,500) is approved. Change order #2 (bar millwork, $8,000) is still pending. Retainage is 10% on completed work and on stored materials. The rooftop unit has been delivered and stored on site but not installed.
The G703 side (line items)
| # | Scope | Scheduled value | From previous | This period | Stored now | Completed & stored | % | Balance |
|---|---|---|---|---|---|---|---|---|
| 1 | General conditions | $38,000 | $11,400 | $3,800 | — | $15,200 | 40% | $22,800 |
| 2 | Demolition | $14,500 | $14,500 | — | — | $14,500 | 100% | $0 |
| 3 | Framing & drywall | $62,000 | $31,000 | $18,600 | — | $49,600 | 80% | $12,400 |
| 4 | Plumbing (incl. CO #1) | $58,500 | $23,000 | $9,200 | — | $32,200 | 55% | $26,300 |
| 5 | HVAC & kitchen exhaust | $86,000 | $17,200 | $12,900 | $21,500 | $51,600 | 60% | $34,400 |
| 6 | Electrical | $71,000 | $21,300 | $14,200 | — | $35,500 | 50% | $35,500 |
| 7 | Finishes | $68,500 | — | — | — | $0 | 0% | $68,500 |
| 8 | Storefront & doors | $42,000 | — | — | — | $0 | 0% | $42,000 |
| 9 | Fire sprinkler & alarm | $32,000 | $6,400 | $6,400 | — | $12,800 | 40% | $19,200 |
| 10 | Closeout | $20,000 | — | — | — | $0 | 0% | $20,000 |
| Totals | $492,500 | $124,800 | $65,100 | $21,500 | $211,400 | 42.9% | $281,100 |
The G702 side (summary)
| Line | Item | Amount |
|---|---|---|
| 1 | Original contract sum | $480,000.00 |
| 2 | Net change by approved change orders | $12,500.00 |
| 3 | Contract sum to date | $492,500.00 |
| 4 | Total completed & stored to date | $211,400.00 |
| 5 | Retainage (10% of $189,900 completed + 10% of $21,500 stored) | $21,140.00 |
| 6 | Total earned less retainage | $190,260.00 |
| 7 | Less previous certificates for payment | $112,320.00 |
| 8 | Current payment due | $77,940.00 |
| 9 | Balance to finish, including retainage | $302,240.00 |
Three things to notice:
- Line 3 equals the G703 scheduled-value total ($492,500) because only the approved change order is in it. If the pending $8,000 change order were added to one side but not the other, the forms would stop reconciling. That’s the first thing a reviewer should catch.
- Line 7 ($112,320) is what was actually approved through application #2: $124,800 billed, less 10% retainage. It comes from the last approved certificate, not from the contractor’s last request.
- Line 9 ($302,240) is the G703 balance ($281,100) plus the retainage still held ($21,140).
The free worksheet opens with this example, so you can see every formula and then replace the numbers with your own.
Common AIA G702 vs 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. In the example above, if the rooftop unit were installed next month and its $21,500 billed as completed work while also staying in “stored now”, the application would overstate progress by $21,500, and the owner would pay $19,350 too much after retainage.
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
This is the most common AIA G702 vs G703 mismatch we see on Texas draws: the G702 summary carries one retainage percentage while the G703 lines carry another.
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. In the example, holding 5% on the line items while the summary says 10% creates a $10,570 gap between the two forms.
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 AIA G702 vs G703 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 AIA G702 vs G703 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 forms themselves are published by the American Institute of Architects; the current editions are the G702-1992 Application and Certificate for Payment and the G703-1992 Continuation Sheet. In Texas the lien waivers that travel with them follow the statutory forms in Property Code Chapter 53.
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.
In Texas, retainage has a statutory side too. Property Code §53.101 requires the owner to reserve 10% of the contract price, or of the value of the work, during the job and for 30 days after completion. The retainage line on the G702 is a contract term. Setting it at 10% keeps the two aligned, but your contract governs. Lien waivers travel with each draw as separate documents; see our Texas lien waiver forms guide. This is general information, not legal advice.
Frequently asked questions about AIA G702 vs G703
AIA G702 vs G703: 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?
Not quite — and the AIA G702 vs G703 distinction is easiest to see here: the schedule of values is the agreed breakdown; the G703 is that breakdown with this period’s progress filled in.
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 vs G703 paperwork 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.
What does G702 mean?
G702 is the AIA document number for the Application and Certificate for Payment, the one-page summary a contractor submits to request a progress payment. The current edition is G702-1992. Its companion, G703, is the Continuation Sheet with the line-item detail.
Is there a free G703 template?
AIA sells the official form and offers a free sample to view. Our free Schedule of Values & Pay Application Worksheet follows the same line-item logic (scheduled value, previous, this period, stored, completed to date, balance, retainage) and checks the math. It isn’t an AIA document, so use it to prepare or check numbers when the official form isn’t required, or alongside it when it is.
How is retainage shown on the G702?
Line 5 of the G702 shows retainage on completed work and on stored materials separately, because some contracts use different rates for each. The total has to match the retainage calculated line by line on the G703.
Can stored materials be billed on the G703?
Usually, if the contract and lender allow it. Most lenders want stored materials itemized, backed by invoices, insured, and stored on site or in a bonded warehouse. Once installed, the value moves from “stored” to “completed”.
Make the next AIA G702 vs G703 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 8-Unit Townhomes case study.
Book a free 20-minute project review and bring the current G702, G703, change-order log, and last approved draw.