AIA G702/G703 Forms Explained

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

What Are AIA Forms?

AIA G702 and G703 are industry-standard forms created by the American Institute of Architects for construction payment applications.

G702: Application and Certificate for Payment

This is the **cover sheet** for your draw request. It summarizes:
- Total contract amount
- Total completed and stored to date
- Retainage held
- Amount of this draw request
- Net amount due

G703: Continuation Sheet

This is the **detailed breakdown** showing each budget line item with:
- Scheduled value (original budget amount)
- Previous applications (amounts from prior draws)
- Work completed this period
- Materials stored (not yet installed)
- Total completed and stored
- Percentage complete
- Balance to finish

Why Banks Require Them

Banks use AIA forms because they provide a standardized format for reviewing draw requests. OwnerDraw auto-fills these forms from your budget and draw data.

> TIP: OwnerDraw generates AIA forms automatically from your budget data. Make sure your budget is up-to-date and all expenses are logged before generating a draw packet.