Streamline Your Construction Project Billing with Our Progress Billing Procedure Template
Are you tired of the hassle and confusion that comes with construction project billing? Our Progress Billing Procedure Template can help you streamline the process and ensure accurate and timely payments.
This Word document template includes step-by-step instructions for creating and submitting progress billing invoices, as well as sample forms and templates to make the process even easier. With our template, you can:
- Ensure accurate and timely billing
- Reduce errors and disputes
- Improve communication with clients and stakeholders
- Save time and effort
Our Progress Billing Procedure Template is fully customizable to meet the unique needs of your construction project. Whether you’re a contractor, subcontractor, or owner, our template can help you stay organized and on top of your billing.
Don’t let billing headaches slow down your construction project. Order our Progress Billing Procedure Template today and start streamlining your billing process.
Project Progress Billing Procedure
The purpose of the Project Progress Billing Procedure is to obtain payment for the portion of labor and materials used up to a certain point in time and before the project is fully completed. This improves the cash flow typical of long term projects or assignments.
Progress billings will be made to clients on a timely basis throughout the life of the project. These billings will be accurate and easily understood by both parties involved. The Progress Billing Procedure applies to all service agreements or projects provided by the company. (3 pages, 963 words)
Project Progress Billing Definitions:
Statutory Declarations – A statutory declaration is a sworn statement. For official purposes, it is signed by a person who is legally authorized to administer an oath (i.e. a lawyer, judge, or notary public).
Holdback Requirement – A condition in an agreement where money is withheld or “heldback” until a specific event or milestone occurs.
Project Progress Billing Procedure Activities
- Contract Types
- Breakdown of Contract Amount
- Progress Claims
- Release of Holdback