Content.
Differences between G742™-2015 and G742™GMP-2024
Synopsis.
AIA Documents G742™CW-2024, Application and Certificate for Payment for Cost of the Work Design-Build Projects without a Guaranteed Maximum Price; G742GMP-2024, Application and Certificate for Payment for Cost of the Work Design-Build Projects with a Guaranteed Maximum Price; and G743™CW–2024, Continuation Sheet for Cost of the Work Design-Build Projects are forms on which a design-builder can apply for payment, and the owner can certify payments are due, on a design-build project where the basis of payment to the design-builder is the cost of the work plus a fee. G742GMP-2024 should be used on cost of the work design-build projects that have a guaranteed maximum price, while G742™CW-2024 should be used on cost of the work design-build projects that do not have a guaranteed maximum price.
G742CW-2024, G742GMP-2024, and G743CW–2024 are not intended to replace AIA Documents G742™-2015, Application and Certificate for Payment for a Design-Build Project and G743™-2015, Continuation Sheet for a Design-Build Project. Rather, they are modified versions of G742-2015 and G743-2015 that are specifically tailored for cost of the work design-build projects. G742CW-2024, G742GMP-2024, and G743CW–2024 should be used on cost of the work design-build projects where the parties intend to show, through the continuation sheet, how actual costs differ from estimated costs and where funds may have been shifted or reallocated between line items in each application for payment. The AIA does not publish a standard schedule of values form, although the G743-2015 and G743CW–2024 continuation sheets are often referred to as a schedule of values.
Like the G742-2015 and G743-2015, these forms require the design-builder to show the status of the contract sum to date, including the total dollar amount of the work completed and stored to date, the amount of retainage (if any), the total of previous payments, and the amount of current payment requested. For each portion of the work, G743CW–2024 requires the contractor to show the original estimated value (column C1), the change in value from previous applications (column C2), the change in value in this pay period (column C3), and the current value (column C4).
Related Documents.
AIA Document G742GMP-2024 should be used with G743CW–2024, Continuation Sheet for Cost of the Work Projects. This pairing of documents is intended for use on projects where the contractor has a direct agreement with the owner where the basis of payment to the contractor is the cost of the work plus a fee with a guaranteed maximum price. Procedures for their use are covered in AIA Document A141®–2024, Standard Form of Agreement Between Owner and Design-Builder. G742GMP–2024 should not be used with G743-2015, Continuation Sheet for a Design-Build Project.
Differences between G742-2015 and G742GMP-2024.
G742GMP–2024 is based off the G742-2015, Application and Certificate for Payment for a Design-Build Project but contains modifications to indicate that the contract between the owner and design-builder contains a guaranteed maximum price. Item 1 in G742GMP–2024 states “Original Guaranteed Maximum Price” rather than “Original Contract Sum”, as it does in G742-2015. The phrase “Guaranteed Maximum Price” also replaces the phrase “Contract Sum” in item 3 and replaces “Balance to Finish” in item 9 in G742GMP–2024. G742GMP–2024 also references G743CW–2024, rather than G743–2015, throughout the document. Additionally, G742GMP–2024 removes the distribution list from the header in G742-2015.