Construction Payment Report
Prepared by: [Your Name]
I. Project Information
Project Detail | Information |
|---|
Project Name | Sunset Plaza Construction |
Project ID | SP-2050-01 |
Project Location | 1200 Main Street, Springfield, IL 62701 |
Client Name | Horizon Development Group |
Contractor | BuildRight Construction Inc. |
II. Payment Summary:
Payment Summary | Amount |
|---|
Total Payments Made | $1,200,000 |
Total Payments Pending | $150,000 |
Total Payments Due | $50,000 |
Payment Period | November 1, 2050 – December 15, 2050 |
III. Payee Details
Payee | Amount Paid | Amount Pending |
|---|
General Contractor: BuildRight Construction Inc. | $500,000 | $75,000 |
Subcontractor 1 (Electrical): PowerTech Electrical Services | $200,000 | $25,000 |
Subcontractor 2 (Plumbing): FlowMaster Plumbing Co. | $100,000 | $20,000 |
Supplier: SteelWorks Supply Ltd. | $150,000 | $10,000 |
IV. Invoice Details
Invoice # | Vendor | Date | Description | Amount |
|---|
#001 | BuildRight Construction Inc. | November 5, 2024 | Payment for site preparation and foundation work | $300,000 |
#002 | PowerTech Electrical Services | November 12, 2024 | Electrical wiring installation for the first floor | $150,000 |
#003 | FlowMaster Plumbing Co. | November 20, 2024 | Plumbing for bathrooms and kitchen areas | $75,000 |
V. Payment Status
Payment Status | Amount |
|---|
Payments Completed | $1,050,000 |
Payments Pending | $150,000 |
Details | Payments for invoices #003 and #004 (subcontractor fees) remain pending. |
Late Payments | None |
Discrepancies | None |
VI. Retention Amounts
Retention Amounts | Details |
|---|
Amount Retained for Quality Assurance | $50,000 (General Contractor) |
Retention Period | 6 months after project completion |
VII. Discrepancies or Issues
Invoice #004 (SteelWorks Supply Ltd.): Discrepancy in materials provided compared to invoice, under review.
Subcontractor 2 (Plumbing): Pending payment for work completed on time, to be processed in the next payment cycle.
VIII. Approval and Signatures
Approved By:
[YOUR NAME], Project Manager, Horizon Development Group
Date: December 18, 2050
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