Most commercial contracts specify AIA's forms by name because they're the industry-standard format an owner's rep, architect, and lender all already know how to read. G702 is the one-page summary — contract sum, amount billed, retainage, balance due. G703 is the backup: every SOV line with prior billing, current billing, and percent complete.
The forms themselves are simple. What's hard is keeping the G703 line items honest month over month, since any dispute about a pay app usually comes down to whether one line's claimed percentage matches reality in the field.
Example
A GC's monthly billing packet to the owner is a signed G702 with a G703 attached listing all 40 SOV lines, each showing this period's billing against the total contract value for that line.
Related terms
Next step
Where this shows up in Datumel:
Change Order Audit$9,999 one-time
A review of your change order documentation and dispute exposure. Finds where approvals slip through verbal exchanges.