Payment Certificate
Free Payment Certificate Template. Ready to use Microsoft Excel format for responding to construction Progress Claims.
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What is a Payment Certificate?
A Payment Certificate is a formal, contractual document issued in response to a Payment Claim submitted by a contractor for work completed on a project. It serves as an official acknowledgment of the work performed and the amount due, ensuring that all financial transactions are documented and agreed upon by both the contractor and the project owner.
What Construction Contracts use Payment Certificates?
Nearly all construction contracts, whether it be from a General Contractor submitting a Progress Claim to a Project Owner / Client-Side Project Manager, or Subcontractor submitting a Progress Claim to a General Contractor, will have Payment Certificates. You can read about standard forms of contracts in Australia here, and standard forms of contracts in North America here. It's important to read and understand your specific contract and how this template can help.
What is a Payment Certificate Template?
Since Progress Claims and Payment Certificates are regular and repetitive throughout the life of a construction project, standardizing the format through a template helps maintain consistency and ensures all key information is captured accurately. A standardized Payment Certificate Template becomes a crucial document for requesting payments and documenting the work completed during a specific period and ensure compliance, such as with the Security of Payments Act in Australia.
How to Write a Payment Certificate
- Quantify the Work Certified: Clearly specify the amount of work you are certifying in measurable terms, and align this with the schedule of values in the contract.
- Calculate the Payment Amount: Based on the contract terms, calculate the amount due for the reported period. This should include adjustments for retained amounts or previous payments.
- Certification and Approval: Include sections for the necessary approvals from quantity surveyors or client representatives, confirming that the work has been satisfactorily completed according to the contract.
- Submission Instructions: Ensure you follow the contract's submission instructions for timing and to whom, ensuring compliance with contract stipulations.
What is a Payment Schedule?
A Payment Certificate, depending on the contract, may be also be called a Payment Schedule. Sometimes, the word Payment Schedule refers to the detailed table of values that is provided with this template on page 2.
How to Use This Payment Schedule Template
This Payment Schedule Template is designed to streamline the payment certification process during a construction project. Here's how to effectively use this template:
- Download and Customize: Download the template and modify it to fit the specific needs of your project. This might include adding branding elements like your logos.
- Fill in the Details / Schedule: Populate the template with comprehensive details about the work completed, using the sections provided on both tabs.
- Review and Approve: Have all relevant parties review the completed Payment Schedule. This review process helps prevent misunderstandings and ensures agreement on the work completed and payment due.
- Respond to the Progress Claim: Once reviewed and approved, submit the Payment Schedule according to the outlined process in the contract, ensuring all submission deadlines are met.
- Keep Records: Maintain copies of each submitted Payment Schedule as part of the project’s official documentation for audits, disputes, or future reference.
Payment Schedule Template Highlights:
- Detailed Format: Ensures all aspects of the work and payment request are thoroughly documented.
- Ready-to-Use: Pre-formatted for immediate use by subcontractors or general contractors.
- Customizable: Flexible design to meet specific project or contractual requirements.
- Professional Layout: Suitable for formal settings and legal purposes.
- Compliant: Works with the Security of Payments Act in Australia.
What’s Included:
- 1 x Microsoft Excel Payment Schedule Template: Ready for download and use for Payment Schedule.
How Mastt can help with Payment Schedules in Construction
👉 Explore Mastt's Payment Module to efficiently manage and track Payment Schedule - automatically!