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Copyright 2002 AlA MASTERSPEC 11/02 2. Submit the Schedule of Values to Architect at earliest possible date but no later than seven days before the date scheduled for submittal of initial Applications for Payment 3. Subschedules: Where the Work is separated into phases requiring separately phased payments, provide sub schedules showing values correlated with each phase of payment B. Format and Content: Use the Project Manual table of contents as a guide to establish line items for the Schedule of Values. Provide at least one line item for each Specification Section. 1. Identification: Include the following Project identification on the Schedule of Values: a. Project name and location. b. Name of Architect c. Architect's project number. d. Contractor's name and address. e. Date of submittal. 2. Submit draft of AlA Document G703 Continuation Sheets. 3. Arrange the Schedule of Values in tabular form with separate columns to indicate the following for each item listed: a. Related Specification Section or Division. b. Description of the Work. c. Name of subcontractor. d. Name of manufacturer or fabricator. e. Name of supplier. f. Change Orders (numbers) that affect value. g. Dollar value. 1) Percentage of the Contract Sum to nearest one-hundredth percent, adjusted to total 1 00 percent 4. Provide a breakdown of the Contract Sum in enough detail to facilitate continued evaluation of Applications for Payment and progress reports. Coordinate with the Project Manual table of contents. Provide several line items for principal subcontract amounts, where appropriate. Include separate line items under required principal subcontracts for operation and maintenance manuals, punch list activities, Project Record Documents, and demonstration and training in the amount of 5 percent of the Contract Sum. 5. Round amounts to nearest whole dollar; total shall equal the Contract Sum. 6. Provide a separate line item in the Schedule of Values for each part of the Work where Applications for Payment may include materials or equipment purchased or fabricated and stored, but not yet installed. a. Differentiate between items stored on-site and items stored off-site. If specified, include evidence of insurance or bonded warehousing. 7. Provide separate line items in the Schedule of Values for initial cost of materials, for each subsequent stage of completion, and for total installed value of that part of the Work. 8. Allowances: Provide a separate line item in the Schedule of Values for each allowance. Show line-item value of unit-cost allowances, as a product of the unit cost, multiplied by measured quantity. Use information indicated in the Contract Documents to determine quantities. PAYMENT PROCEDURES 01290 - 2