What does the Contractor need to submit to receive Final Payment?

To receive Final Payment, the Contractor must submit the Final Application for Payment. This document is essential as it provides a formal request for the last payment owed to the Contractor for the work completed on the project. The Final Application for Payment typically includes a summary of the work completed, an accounting of the costs incurred, and any adjustments that may have occurred throughout the project, such as change orders.

This submission is crucial because it demonstrates that the Contractor has fulfilled all necessary contractual obligations and has completed the project according to the terms agreed upon in the contract. Additionally, the Final Application for Payment allows the project stakeholders, including the owner and architect, to review and verify that the work is complete and meets all required standards before final funds are released.

The other options do not relate directly to the final payment process. A Certificate of Occupancy is typically issued by local authorities and confirms that the building is safe to occupy but is not a requirement for payment. The Initial Contract Documents include the original agreements and plans but are not relevant at the payment stage. New Change Orders refer to modifications in the contract which may affect pricing or scope, but they do not directly pertain to the submission required for final payment.