Pay Request Review
Building projects typically are the single largest purchase that an organization will make. It is vital to have an industry expert review requests for payment and invoices. We provide management of the entire payment process.
Establish Pay Request Process and Format: At the beginning of the project, we establish with the stakeholders, including owners, developers, lenders, designers and contractors, the necessary process and format for invoicing and pay requests. We develop a schedule of values that is consistent with the project scope and pay application review best practices. We also coordinate and communicate the forms and procedures required on each project.
Pay Application Expediting: The pay application and payment process can be tedious and time consuming. We also believe it is best for the project that contractors are paid in a timely fashion. Our management of the process is designed to move through each pay application efficiently, but without compromise of the established requirements.
Assess Completed Work: Each progress payment is carefully scrutinized to make sure the requested amounts reflect the work that is completed and properly billable. Work that is identified as not being compliant with plans and specifications is generally considered unbillable, and the pay request will be adjusted accordingly. We also evaluate pay applications for special circumstances, such as off-site stored materials, international purchasing, pre-payment vendors, etc.
Documentation: We track the required documentation, including insurance, lien waivers, affidavits, Davis-Bacon reports, etc.
Cost Verification: In “open book” or Guaranteed Maximum Price (GMP) contracts, we review all documentation to make sure billings are in accordance with the contract agreements.