1 : Financial Statements :
Issued on a preset schedule (i.e. biweekly), these statements show you exactly how the job is progressing monetarily.
2 : Schedule Updates :
Project schedules change due to various reasons such as change orders or weather. Updates are provided to you biweekly to track changes in the schedule as well as highlight important milestones in your project that are approaching.
3 : Draw Requests or Invoices:
For a Fixed Cost contract a Draw Request may be a fixed, recurring amount or a varying amount depending upon work completed. Requests are submitted to you when it is time for payment according to the contract or bank loan schedule. For a Cost Plus contract, Invoices are issued on a weekly basis and are based on expenditures for the week. A statement, showing how much has been paid to date, the amount of the draw request or invoice and the remaining balance of the bid is included with each request.
4 : Change Orders :
Larger change orders are documented and signed off on so that both client and contractor are clear about how the project, contract and bid amount have been modified. Change orders include a description of the work to be done and an estimate of the cost of that change. Smaller change orders can be tracked in the Job Book.
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