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OC Motor Pool and Maintenance Shop <br />PDC Project 23017 Price and Payment Procedures 01 20 00 - 1 <br />SECTION 01 20 00 <br />PRICE AND PAYMENT PROCEDURES <br />PART 1 GENERAL <br />1.01 SECTION INCLUDES <br />A.Procedures for preparation and submittal of applications for progress payments. <br />B.Documentation of changes in Contract Sum and Contract Time. <br />C.Procedures for preparation and submittal of application for final payment. <br />1.02 SCHEDULE OF VALUES <br />A.Use Schedule of Values Form: AIA G703. <br />B.Electronic media printout including equivalent information will be considered in lieu of standard <br />form specified;submit draft to Architect for approval. <br />C.Forms filled out by hand will not be accepted. <br />D.Submit Schedule of Values in duplicate within 20 days after date of Owner-Contractor Agreement. <br />E.Format: Utilize the Table of Contents of this Project Manual.Identify each line item with number <br />and title of the specification section. Identify site mobilization. <br />F.Revise schedule to list approved Change Orders,with each Application For Payment. <br />1.03 APPLICATIONS FOR PROGRESS PAYMENTS <br />A.Payment Period: Submit at intervals stipulated in the General and Supplementary Conditions. <br />B.Use Form AIA G702 and Form AIA G703. <br />C.Forms filled out by hand will not be accepted. <br />D.Execute certification by signature of authorized officer. <br />E.Use data from approved Schedule of Values. Provide dollar value in each column for each line <br />item for portion of work performed and for stored products. <br />F.List each authorized Change Order as a separate line item,listing Change Order number and <br />dollar amount as for an original item of work. <br />G.Submit one electronic and three hard-copies of each Application for Payment. <br />H.Include the following with the application: <br />1.Transmittal letter as specified for submittals in Section 01 30 00. <br />2.Construction progress schedule,revised and current as specified in Section 01 30 00. <br />3.State Tax form if required <br />1.04 MODIFICATION PROCEDURES <br />A.For minor changes not involving an adjustment to the Contract Sum or Contract Time,Architect <br />will issue instructions directly to Contractor. <br />B.For changes for which advance pricing is desired,Architect will issue a document that includes a <br />detailed description of a proposed change with supplementary or revised drawings and <br />specifications,a change in Contract Time for executing the change with a stipulation of any <br />overtime work required and the period of time during which the requested price will be considered <br />valid. Contractor shall prepare and submit a fixed price quotation within 7 days. <br />C.Computation of Change in Contract Amount: As specified in the Agreement and Conditions of the <br />Contract. <br />1.05 APPLICATION FOR FINAL PAYMENT <br />A.Prepare Application for Final Payment as specified for progress payments,identifying total <br />adjusted Contract Sum,previous payments,and sum remaining due. <br />B.Application for Final Payment will not be considered until the following have been accomplished: <br />1.All closeout procedures specified in Section 01 70 00. <br />Docusign Envelope ID: EF9C08D2-5B75-438B-8D6D-8473F81BD7C4