Application for Payment

Application for Payment. Shall mean a written application in form and substance satisfactory to Lender requesting an advance of Loan Funds together with a certificate signed by the Borrower and Contractor certifying as to the Improvements completed at the time; that each contractor or materialman specified in the Application for Payment has satisfactorily completed the work or furnished the materials for which payment is requested in accordance with the applicable contract; that all ... work for which a Application for Payment is made conforms to the Contract Documents and any approved changes, and is in place; and that sufficient funds remain of the undisbursed loan amounts to complete the Project and that all funds previously disbursed have been applied as per the previous Applications for Payment. View More

Application for Payment. Completed Application and Certificate for Payment (AIA Document G702)

Application for Payment. Is defined in Article 10.1.1 of this Agreement.