Real Estate, Facilities & Energy · Money back · Hours back · sample run · 19 ms

Retainage Tracker

Application 9 asks for $544,800.00; $326,700.00 is supported, so $218,100.00 is held, including a $31,050.00 retainage release requested before substantial completion.

Evidence · G703 continuation sheet

5,HVAC ductwork,544000.00,380000.00,96000.00,0.00,486000.00,89.34%,58000.00,48600.00,10%,

Working

D + E + F = $380,000.00 + $96,000.00 + $0.00 = $476,000.00, but column G shows $486,000.00, which carries into % and H. The overstatement of $10,000.00 less the $1,000.00 retainage on it (10.00%) = $9,000.00 comes off the payment.

Method

1G703 arithmetic per line: G = D + E + F, % = G / C, H = C - G, checked against the columns as submitted ($1.00 and 0.05 point tolerance).

2G702 arithmetic: 3 = 1 + 2, 5 = 5a + 5b less any release, 6 = 4 - 5, 8 = 6 - 7, 9 = 3 - 6; line 4 against the column G total and 5a + 5b against the column I total.

Photo: Artem Labunsky, Unsplash

$218,100.00

Held · 6 findings

Ref	Description	Issue
G703 line 5	HVAC ductwork	Arithmetic error
G702 line 9	Balance to Finish, Including Retainage	Arithmetic error
G703 line 4	Sanitary waste and vent piping	Line over 100% complete

Reads

AIA G703 continuation sheet lines and G702 summary figures

Produces

Corrected pay application schedule and a release hold notice (Retainage release hold notice, Corrected G703 schedule (CSV), Corrected G702 summary (CSV))

Price

$2,000 / month, 30% to the referring partner

Your files

Read in memory for the session, never stored, never used to train a model.

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