Describe the procedure for payment processing.
What will be an ideal response?
After the contractor completes the application for payment, the architect and engineer review the application and certify the payment request if correct. Some architects and engineers request a rough payment to review, then the final application is prepared with the architect's comments. This procedure usually saves time, avoiding rejection of the application for payment. Most contracts specify how long the owner can take to process the progress payment after receipt of the certified application. This period usually is 30 days but can vary, depending on specific factors relating to the owner and project financing. Many owners, even public owners, try to expedite progress payments to the contractor. A good relationship between the owner and contractor can facilitate prompt payment of applications.
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