Progress Payment Schedule Example
Example document for Progress Payment Schedule. Use this as a reference when creating your own.
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Document: Progress Payment Schedule
Example Document
Last updated 7/30/2026
Progress Payment Schedule
Project Details: Project Address: 42 Wallaby Way, Sydney NSW Client Name(s): John and Jane Smith Builder License Number: 12345678 Contract Date: 01/07/2023 Total Contract Value: $500,000.00
Schedule of Payments:
| Stage Number | Stage Name | Description of Work Required | Amount Due ($) |
|---|---|---|---|
| 1 | Deposit | Initial payment to secure the booking and commence preliminary ordering. | $50,000.00 |
| 2 | Base Stage | Completion of site excavation, pouring of concrete footings, and installation of sub-floor plumbing. | $75,000.00 |
| 3 | Frame Stage | Completion of the framing, trusses, and roof covering. The structure is weatherproof. | $100,000.00 |
| 4 | Lock-Up Stage | Installation of external doors and windows. The property can be securely locked. | $75,000.00 |
| 5 | Fixing Stage | Installation of internal linings, architraves, skirtings, doors, and fit-offs of wet areas. | $100,000.00 |
| 6 | Practical Completion | All building work is complete except for minor defects. The site is clean and the home is ready for handover. | $100,000.00 |
| Total | $500,000.00 |
Terms and Conditions:
- Payments are due within 7 days of the builder issuing an invoice for the completed stage.
- The builder will notify the client in writing when a stage is complete.
- The client may inspect the work prior to payment.
- Goods and Services Tax (GST) is INCLUDED in the above amounts.
Signatures:
Bob the Builder Date: 01/07/2023
John Smith Date: 05/07/2023
Notes
Key Decisions:
- The deposit is set at 10%, which is the maximum allowed in NSW without specific insurance.
- The Base stage covers expensive civil works and concrete, justifying the 15% allocation.
- The final stage is 20% to ensure the builder retains sufficient to complete the project and rectify minor defects.
- GST is included to simplify the invoicing process for the client.
About this Example
Part of the Progress Payment Schedule document collection
Document Type
Progress Payment Schedule
A document that lists the specific stages of a construction project and the payment amounts due upon completion of each stage.