For Developers
Draw Schedule & Progress Billing
We bill flooring the way your lender funds the project: a clean schedule of values, pay applications tied to your construction draws, and release billing that reconciles line by line.
On a ground-up multifamily or mixed-use project, the flooring line rarely lives or dies on the product. It lives on whether the money moves correctly. Your lender funds against a schedule of values, your owner's-rep signs pay applications, and every dollar drawn has to trace back to work actually in place. A flooring vendor who cannot break their number into billable components, or who invoices in one lump at substantial completion, becomes a reconciliation problem the day the first draw request goes to the bank.
Alderwood is a flooring installer, but on a developer project we work inside your finance mechanics, not around them. Before material is ordered we build a schedule of values that maps our contract sum to the line items your draw structure expects, so the flooring value shows up where the lender's inspector looks for it. From there we bill progress against percent complete, submit conditional and unconditional lien waivers on the cadence your title company requires, and carry retention on our invoices exactly as your prime contract carries it downstream.
The practical goal is simple: no surprises in the draw meeting. When your owner's-rep opens our pay application, the stored materials, installed square footage, and retained balance all agree with what the field walk shows and what the last draw funded. That means we photograph and document delivered-but-uninstalled material for stored-materials billing, we tie percent complete to buildings and floors rather than a vague global number, and we reconcile our running total against the SOV every cycle so retention releases cleanly at closeout.
We are an Idaho Registered Contractor (Idaho RCE-6681702) and insured, and we treat billing discipline as part of the install, not an afterthought handed to a bookkeeper. On a phased Treasure Valley community where buildings turn over in waves, that discipline is what keeps the flooring line current with the draw schedule instead of chasing it.
Schedule of Values Built to Your Draw Structure
Most flooring proposals arrive as a single contract sum. That number is useless to a lender who funds against a schedule of values, so the first thing we do is decompose it. We break our scope into the cost codes your draw structure uses, separate material from labor where your SOV separates them, and align our line items to the buildings, floors, or phases your construction schedule releases in. The result is a flooring section your owner's-rep can drop into the project SOV without reformatting.
Because Treasure Valley communities so often build in phases, we structure the SOV so each building or release can be billed independently. If Building A hits carpet and LVT while Building C is still framing, our pay application reflects only the work in place on A and the material staged for B. Nothing is bundled in a way that forces the lender's inspector to guess what a payment actually funded.
We also identify the stored-materials line early. Wide-plank engineered and specialty LVT often ship on lead times that land material on site weeks before install, and in Idaho's dry winters that material needs to acclimate on site anyway. Billing it as properly documented stored material keeps your cash flow honest without pretending uninstalled goods are finished work.
- Line items mapped to your cost codes
- Material and labor split per SOV
- Phased buildings billed independently
- Stored-materials line identified early
- Values that reconcile to the contract sum
Pay Applications, Percent Complete, and Stored Materials
Every billing cycle we submit a pay application that states percent complete by line, prior billed, current billed, stored materials, and retention. We tie percent complete to countable work: square footage installed by building and floor, not a soft estimate. When your owner's-rep walks the site against our application, the numbers match the field, which is the whole point of a clean draw.
Stored materials get documented, not just asserted. We photograph delivered pallets, tag them to the project, and reference the purchase and delivery so the lender's inspector can verify the goods exist and are earmarked for this job. Where your lender requires it, we can support bill-and-hold documentation before material even reaches the site. This matters most on long-lead engineered and amenity-area product that arrives ahead of the install window.
We invoice on your cycle, in your format. If the project runs on AIA-style G702/G703 applications, we bill that way; if you use a lender portal or a custom continuation sheet, we populate that. The format is yours. What we bring is a flooring line that arrives complete, on time, and already reconciled to the last draw.
- Percent complete by building and floor
- Photographed, tagged stored materials
- AIA G702/G703 or your custom format
- Prior, current, and retained shown clearly
- Applications timed to your draw cycle
Retention, Lien Waivers, and Closeout Release
Retention flows through our billing the way it flows through your prime contract. If the project holds ten percent to substantial completion and steps down thereafter, our invoices carry the same retained percentage on installed work, and we do not bill against retention out of sequence. That keeps the flooring line's retained balance predictable at every draw and removes one more variable from the closeout math.
Lien waivers move on the schedule your title company and lender set. We provide conditional waivers with each pay application and unconditional waivers upon payment, on the cycle you require, so the draw can fund without a waiver gap holding it up. Clean waiver flow is often the difference between a draw that closes on schedule and one that slips a week.
At closeout, retention release should be a formality, not a negotiation. Because we have reconciled our running total to the SOV every cycle, the final retained balance already agrees with the field. We tie the retention release to punch completion and warranty documentation on the installed floors, hand over the closeout package your lender needs, and let the flooring line close without a scramble.
How It Works
How draw-aligned progress billing works on a multifamily flooring scope
Set the schedule of values before mobilization
Before any product hits the site, we break the flooring contract into a line-item schedule of values (SOV) that maps to how the project draws. On a multifamily job that usually means splitting by building, floor, or unit-type band (e.g., 1BR / 2BR / common areas), and separating stored materials from installed labor. Each line carries its own scheduled value so a partially complete building bills accurately. We format the SOV to match your lender's draw structure and AIA-style G702/G703 conventions when your bank or GC requires them, so our numbers reconcile line-for-line against the master draw. Getting the SOV right up front is what makes every later pay app fast to approve.
Bill each draw against verified percent-complete
For each draw period we submit a pay application showing percent-complete per SOV line: material stored on site, material installed, and work in place. We photo-document by unit or building so the GC, owner's rep, and lender inspector can verify what they're paying for without a site walk stalling the draw. Stored-materials billing (with proof of purchase and on-site protection) lets you capture LVP, hardwood, tile, or carpet costs before install without fronting the full material spend yourself. Because the pay app ties directly to the SOV set in step one, there's no reconciliation guesswork between our request and the draw package.
Exchange lien waivers with each payment
Idaho lien law (Title 45) gives suppliers and installers mechanic's lien rights, so lenders and GCs manage that exposure through the waiver exchange. With each pay app we provide conditional progress lien waivers for the amount being requested, then unconditional waivers once that payment clears. As a registered Idaho contractor (RCE-6681702) we also furnish waivers from our own supply chain when your title company or lender requires down-stream coverage. This conditional-then-unconditional cadence keeps the title clean at every draw and prevents a waiver gap from freezing the next disbursement.
Hold and track retainage per draw
Most multifamily contracts withhold retainage (commonly 5-10%) from each progress payment as security until completion. We bill retainage as a distinct column on every pay app so the withheld balance is always visible and accrues correctly across buildings that complete on different timelines. When a building or phase reaches substantial completion ahead of the rest of the project, we can request early partial retainage release on just that portion where the contract allows it, rather than carrying the full withholding to the very end. Clear per-line retainage tracking is what makes the final release paperwork straightforward instead of a reconciliation fight.
Close out with punch, final waivers, and retainage release
At completion we walk each building for punch, correct anything on the list, and submit the final pay application covering remaining earned value plus all held retainage. That final request comes with final unconditional lien waivers, warranty documentation, and any maintenance or care packets the property manager needs for handoff. Once the owner's rep signs off and the last draw funds, the title is clear and the scope is fully released. The whole close-out moves quickly because the SOV, waiver trail, and retainage ledger have stayed reconciled draw by draw from mobilization forward.
For Developers
More of the Program
Multifamily Flooring Packages
Spec & Submittal Coordination
Amenity & Common-Area Flooring
LVT Durability Specifications
Back to the for developers overview.
Good to Know
Frequently Asked Questions
Can you bill on our AIA G702/G703 draw format?
Yes. We populate the continuation sheet with our schedule of values, showing scheduled value, prior billed, current period, stored materials, and retention by line. If you run draws through a lender portal or a custom continuation sheet instead, we bill in that format. The goal is a flooring line your owner's-rep can submit without reformatting.
How do you handle retention on a phased project?
We carry the same retained percentage your prime contract holds, applied to installed work as it is billed. On a phased community, retention accrues per building or release so each phase's retained balance is clear at every draw. We do not bill against retention out of sequence, which keeps the closeout math predictable.
Will you bill for material delivered but not yet installed?
Yes, as documented stored materials when your lender allows it. We photograph and tag delivered pallets to the project and reference the purchase and delivery so the inspector can verify the goods. This matters on long-lead engineered and specialty product, which in Idaho's dry winters needs on-site acclimation before install anyway.
What lien waiver documentation do you provide with each draw?
We provide conditional waivers with each pay application and unconditional waivers upon payment, on the cadence your title company and lender require. Moving waivers on schedule prevents a waiver gap from holding up a draw. At closeout we deliver final unconditional waivers with the retention release package.
Talk to Us About Draw Schedule & Progress Billing
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