AIA G702/G703 Forms Explained

What these standard forms are, how OwnerDraw auto-fills them, and why banks require them.

What these forms are

G702 and G703 are the standard construction payment-application forms published by the American Institute of Architects. Most construction lenders expect them with every draw request. OwnerDraw fills them in from your project.

G702 — Application and Certificate for Payment

The cover sheet. It summarises:

  • the total contract amount,
  • total completed and stored to date,
  • retainage held,
  • the amount of this request, and
  • the net amount due.

G703 — Continuation Sheet

The line-by-line breakdown. Per line it shows:

  • **Scheduled Value** — what that line is budgeted to cost,
  • **From Previous Applications** — what earlier draws already billed,
  • **This Period** — what you are billing now,
  • **Materials Presently Stored** — bought but not yet installed,
  • **Total Completed and Stored to Date**,
  • **%**, and
  • **Balance to Finish**.

The percentage on the G703 is a money figure, not a verified statement that the work is physically complete. Lenders confirm progress by inspection.

Where the lines come from

Which lines appear depends on how the packet is built. Detailed budget lines appear when you bill from expenses or in **Detailed** progress billing. Grouped lender lines appear when your Schedule of Values is mapped and you use **SOV View**. See *Schedule of Values and Budget Mapping* for how detailed budget items roll up into those grouped lines.

Earlier funded draws — and older submitted records — are what fill **From Previous Applications**, so the same work is not billed twice.

Generating is not sending

OwnerDraw prepares and downloads the packet. It does not transmit anything to your lender, and preparing a packet is not an approval. Send the file to your lender using whatever process they require, then record the money on the draw once it arrives. See *Creating and Managing a Draw Request*.

Before you generate

Log every expense you intend to bill, keep receipts attached, and make sure no budget line is over budget — the pre-flight check will stop you on a bank-financed project until that is resolved.