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Pay application

An application for payment that indicates project work has been completed by a contractor (or subcontractor) and defined the invoice and payment terms for remitting payment to the contractor.

A pay application is a detailed statement submitted by a contractor to request payment for completed work. It typically includes cost breakdowns, supporting documents, and certifications to verify the work's progress and compliance with contract terms.

Used in a sentence

The pay application should include all relevant documentation to support the billing request.

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Construction Invoice Factoring: A Quick Guide

Construction companies need to聽maintain consistent cash flow. Projects can take years to complete, and delays and unforeseen events may keep expenses mounting. Adding to this load are typically high upfront costs, like materials, equipment and labor. One way to stay solvent while waiting for clients to make their final payments is construction invoice factoring. This […]

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Invoicing in construction is complex. Unlike most retail companies that only require a simple bill of sale or list of line items on an invoice, most construction businesses have to provide a collection of detailed documents that provide proof of labor and materials supplied within the billing period. In this article, we explore the construction […]

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