![]() You should create an invoice template for each contract, which incorporates your contract requirements and accepted industry practice for format, classifications, retainage, supplier invoices and any other necessary details. If you have supplier invoice amounts which need to be included in your invoice, verify the percentage completion and include the amount in your invoice by category of work performed. The amount of retainage for the invoice and the contract to date should be included. RETAINAGEĪ hold back of the amount invoiced of 5-10% is usually required to ensure work is completed. ![]() Construction Specifications Institute (“CSI”) categories or divisions, such as site work or concrete for example, are typically used to break down charges by category. CLASSIFICATIONSĪmounts to be invoiced usually need to be broken down into the type of work performed. There are other related AIA Documents such as the G702, Final Waiver and Release of Liens and Claims, which may need to be attached to the invoice. The standard format is the Document G703. FORMATĬonstruction invoices usually follow the format developed by the American Institute of Architects (“AIA”). If you don’t follow the contract terms, your invoice will probably be rejected and you’ll have to start over again. It is essential to follow requirements for method of billing, format, name and address of recipients and any other details. Make sure you review and follow any specifications for invoicing in your contract. Regardless of the type of contract, there are a number of things to consider in creating a construction industry invoice. Percentage-of-completion contracts on the other hand, are used for larger, long-term projects where you invoice a number of times over the life of the job based on the estimated amount of work completed to date. In the case of a completed contract, you issue only one invoice when the job is finished. In the construction industry, contracts may be written on a completed contract basis or percentage-of- completion basis.
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