What Is a G702 Form?
The G702 is the “cover sheet” that summarizes a construction pay application. It rolls up totals from your Schedule of Values (often shown on a G703-style continuation sheet) into a clean project-level snapshot that owners, architects, and lenders can review and approve.
Want the practical “how do I generate this” version?
These hub pages explain each form and how PayAppPro generates AIA-style outputs with accurate math, retainage, stored materials, and clean PDFs.
A Simple Definition
A G702 is a pay application summary that shows, at a project level: how much the contract is worth, how much work has been completed, how much retainage is being held, how much has already been paid, and how much is due on the current application.
Think of it as the “front page” your reviewer wants. It’s not where you list every line item— it’s where you show the totals and certify the numbers you’re submitting for approval.
If you’re here because you need to submit a pay app this week…
Use the hub pages for the exact workflow and common rejection points. Then generate an AIA-style output with clean totals.
Why Owners and GCs Ask for a G702
Owners and GCs love structured pay apps because they’re easier to review. A G702-style summary helps them answer:
- What is the current contract value? (including change orders)
- How much work is complete? (and how close are we to finish?)
- How much retainage is being held?
- How much has already been paid?
- How much is due now?
When the summary is clean and consistent, approvals tend to move faster. When it’s messy, people start asking for backups, recalculations, and “please resend” emails.
What Information Appears on a G702-Style Summary
A G702-style pay application usually includes a mix of project information and billing math. Common sections include:
Project & Parties
- Project name and location
- Owner and contractor information
- Application number and period-to date
- Architect / lender (when applicable)
Billing Summary
- Original contract amount
- Approved change orders (net)
- Contract sum to date
- Total completed & stored to date
- Retainage and payment due
G702 vs. G703: How They Work Together
This is where most people get tripped up: the G702 is the summary, and the G703 (continuation sheet) is the detail.
The continuation sheet is typically where you list your Schedule of Values (SOV) and show progress by line item—work completed this period, stored materials, totals to date, retainage, and balance to finish. The totals from that line-by-line detail then roll up to the G702-style summary.
A “G702-Style” Example (Simple Numbers)
Here’s a simplified example to show how the math usually flows. (This is an educational example — not an official form.)
| # | Summary Item | Amount |
|---|---|---|
| 1 | Original Contract Sum | $250,000.00 |
| 2 | Net Change by Change Orders | $10,000.00 |
| 3 | Contract Sum to Date | $260,000.00 |
| 4 | Total Completed & Stored to Date | $156,000.00 |
| 5 | Retainage (10% of line 4) | ($15,600.00) |
| 6 | Total Earned Less Retainage | $140,400.00 |
| 7 | Less Previous Payments | ($110,000.00) |
| 8 | Payment Due This Application | $30,400.00 |
| 9 | Balance to Finish (Contract sum - completed & stored) | $104,000.00 |
In real life, the “Total Completed & Stored to Date” (line 4) comes from the detailed line-item billing on your continuation sheet / SOV. If that detail isn’t consistent, the summary won’t tie out—and that’s when pay apps get rejected.
What Gets a G702-Style Pay App Rejected
Most rejections aren’t “big mistakes.” They’re small issues that force a reviewer to question the totals:
- Contract sum doesn’t match the latest approved change orders
- Totals don’t match the SOV / continuation sheet
- Retainage applied inconsistently month-to-month
- Stored materials billed with little or no backup documentation
- Percent complete “feels” off compared to job progress
For a practical checklist, see: Common G702 & G703 Errors (and How to Avoid Them).
How PayAppPro Helps
PayAppPro is designed around the way contractors actually bill on AIA-style projects: set up your Schedule of Values once, then update progress each period without chasing spreadsheet formulas.
- Keep contract value and change orders tied to billing totals
- Carry forward period-to-period totals automatically
- Handle retainage and balance-to-finish math consistently
- Track stored materials and supporting docs alongside the pay app
- Generate clean AIA-style pay application outputs (example format)
Want the G702 workflow and hub resources? Start here: G702 hub.
Frequently Asked Questions
Is the G702 the same thing as a pay application?
The G702 is commonly used as the summary page of a pay application package. The full pay app usually includes a continuation sheet (often called a G703) and supporting documents (like lien waivers or stored materials backup).
Do subcontractors use G702/G703?
Often, yes—especially when the GC requires subcontractor billing to match an AIA-style format. Many subs submit their own SOV-based billing so the GC can roll it into the project’s master pay app.
What’s the fastest way to avoid pay app math errors?
Use a consistent SOV and avoid re-keying totals each month. Most errors happen when spreadsheets get copied, changed, or recalculated differently over time.