Payment Application (Lump Sum) - 292

ConsensusDocs 292 is a standardized application for payment forms specifically designed for lump sum construction contracts. It facilitates the accurate processing of progress payments to the Constructor and ensures full transparency in the project’s financial management. This form is essential for both Owners and Constructors—such as general contractors, builders, design-bid-build teams, and construction managers—to track construction progress, certify payment status, and maintain alignment with contractual obligations.

This administrative tool provides a streamlined method to document the actual value of work performed and materials stored on-site, helping the Owner verify and validate payment claims. The Constructor is required to provide a notarized certification that the work completed corresponds to the payment requested, that subcontractors and suppliers have been paid—minus retention—and that all applicable legal and regulatory obligations have been met.

Key Features:

Designed for lump sum construction agreements

• Supports accurate progress billing
• Tracks approved change orders and retainage
• Documents stored materials on-site
• Requires notarized Constructor certification for payment authenticity
• Enhances financial transparency and reduces risk of disputes

ConsensusDocs 292 helps promote trust between project stakeholders by establishing clear, documented proof of payment progress and compliance. It ensures that all parties are aligned in their financial expectations and that payments are made fairly and efficiently in accordance with the terms of the contract. By incorporating this form into their workflow, construction teams can protect themselves from misunderstandings and foster smooth project execution from start to finish.