What is AIA Billing?
AIA billing refers to a standardized method of construction project billing developed by the American Institute of Architects (AIA). This billing system is widely utilized in the construction industry due to its accuracy, traceability and efficiency. It involves using specific forms, such as the G702 Application and Certification for Payment and the G703 Continuation Sheet. These AIA documents help manage and streamline the payment process, offering a detailed breakdown that shows the work completed and the costs associated with each phase of the project. The AIA billing system, therefore, ensures transparency, keeping all stakeholders informed about the project's financial aspects, which mitigates risks and potential disputes over costs and payments.