Construction Billing
Construction Billing
(OP)
Hi can you explain to me the meaning of "TO DATE", "PREVIOUS", AND "THIS PERIOD: IN BILLING. Also I'am just confuse on what's the correct in Final billing because final billing means 100% accomplished and it goes like this:
I. TO DATE - 100% PREVIOUS - 0% THIS PERIOD - 100% or this one
II.TO DATE - 100% PREVIOUS - 10% THIS PERIOD - 90%
what's the correct between the two for final billing?
Thanks in advance.
I. TO DATE - 100% PREVIOUS - 0% THIS PERIOD - 100% or this one
II.TO DATE - 100% PREVIOUS - 10% THIS PERIOD - 90%
what's the correct between the two for final billing?
Thanks in advance.





RE: Construction Billing
1. To Date - This means for all activities up to the date of the request for payment or a pre-determined cutoff date (for example, the 25th of each month).
2. Previous - This usually refers to all previous or prior billings through the last billing period, but not including this billing period.
3. This period - This means exactly what it says...this billing period...not the last one or previous ones...just this one. Most billing periods are 30 days or one month, depending on the way the contract is set up.
I would suggest you get a copy of the instructions for the respective forms from AIA, EJCDC and AGC.
RE: Construction Billing
RE: Construction Billing
RE: Construction Billing
RE: Construction Billing
RE: Construction Billing
Attached is an example of the EJCDC Contractor’s Application For Payment which should provide some additional details as to the procedure that the Contractor uses to request payment.
As Ron suggests, it is very important to read the Contract.
RE: Construction Billing
RE: Construction Billing
RE: Construction Billing
Great agreement between you and your brother. Unfortunately, Cousin Banker often demands that an Engineer certify the correctness of the payment request before disbursing funds from the construction loan.