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The schedule of values is an agreement showing all of the work to be completed during the project, and the associated cost for each line item. The Continuation Sheet shows an itemized list of work you've completed during the period, along with the "scheduled value" or cost.

CERTIFIED Definition & Legal Meaning A qualification or attribute meaning to being officially attested or authoritatively confirmed as being genuine or true as represented, or complying or meeting specified requirements or standards.

A schedule of values is a document submitted as part of the payment process on projects, and it assists with project management. It allocates the entire Contract Sum to various portions of the contractor's work that are detailed in the construction schedule.

If the application is properly completed and acceptable to the architect, the architect's signature certifies to the owner that a payment in the amount indicated is due to the contractor.

For example, if the complete project cost is $200,000 to be paid in five progress payments and the percentage to be retained is 5%, the calculation would be as follows: 200,000 x 0.05 = 10,000 total retainage amount. 10,000 divided by 5 = 2,000 retainage withheld from each progress payment.

At its most simple, a schedule of values is a start-to-finish list of work items on a project that represent the entire project from beginning to end and the entire contract price. The work items are broken down into their component parts with their corresponding values.

A certified check is a personal check that the payer's bank has certified to be legitimate and has earmarked the funds for the check. It's a type of ?official? payment. People often confuse certified checks with cashier's checks.

Document G702®?1992, Application and Certificate for Payment, and G703®?1992, Continuation Sheet, provide convenient and complete forms on which the contractor can apply for payment and the architect can certify that payment is due.

Certify Payments enables your organization to reimburse employees using direct deposit, both domestically and internationally. To initiate reimbursements, your Certify Administrator must first designate you as a Treasurer within Certify.

Certify, attest, witness, vouch mean to testify to the truth or genuineness of something. certify usually applies to a written statement, especially one carrying a signature or seal. certified that the candidate had met all requirements attest applies to oral or written testimony usually from experts or witnesses.