Overview
The Prime Contract feature is designed to provide General Contractors (GCs) with full control over their contractual relationship with the owner. This centralized tool allows users to manage contract files, schedule of values (SOV), change orders, and draw submissions efficiently—all in one place. It streamlines communication, enhances visibility, and reduces administrative risk across a project’s lifecycle.
Setting Up and Managing the Prime Contract
Description
This section covers how to configure your prime contract settings, add necessary documents, and prepare your contract for active use.
Step-by-Step Instructions:
Step 1: Access Prime Contract Details and Settings
Navigate to the Prime Contract module from your project dashboard.
Step 2: Upload Contract Files
Add all relevant contract documentation. This might include signed agreements, terms, or any owner-specific documents.
Step 3: Modify Draw Settings
Adjust how draws will be submitted and tracked. Settings may include frequency, document requirements, and approval workflows.
Step 4: Update Required Documents
Define and upload any required documents that need to accompany each draw or change order submission.
Note: This centralized setup ensures all required data is stored and accessible in one location.
Building and Managing the Schedule of Values (SOV)
Description
The Schedule of Values (SOV) allows GCs to break down the total contract value into manageable cost items. These line items are essential for billing and tracking project progress.
Step-by-Step Instructions:
Step 1: Navigate to the SOV Section
Click into the “Schedule of Values” tab within the Prime Contract module.
Step 2: Import or Create Line Items
Import line items from a pre-set template or create them manually. Each item should reflect a specific cost category or deliverable.
Step 3: Edit and Track Line Items
Adjust quantities or dollar amounts as needed. Each line item is editable and will directly feed into the draw process.
Note: Changes made here automatically sync with draw submissions for billing accuracy.
Creating and Managing Change Orders
Description
Change orders allow GCs to manage any modifications to the original contract. These may include cost increases, scope changes, or additional work.
Step-by-Step Instructions:
Step 1: Go to the Change Orders Tab
Within the Prime Contract module, click “Change Orders.”
Step 2: Create a New Change Order
Include a detailed description of the change, affected cost codes, and any documentation or attachments.
Step 3: Submit for Approval
Once approved, the change order automatically updates the total contract value.
Step 4: Include in Draw Submissions
Approved change orders are integrated into your next draw, ensuring accurate billing.
Note: Clear tracking and integration prevent billing discrepancies and help maintain transparency with the owner.
Submitting Draws
Description
Draw submissions allow GCs to bill for completed work. The Prime Contract feature ensures draw submissions are always aligned with approved SOV items and change orders.
Step-by-Step Instructions:
Step 1: Start a New Draw Submission
Initiate a new draw from within the Prime Contract.
Step 2: Pull Data from the SOV
Draw values auto-populate from the current SOV and any approved change orders.
Step 3: Attach Backup Documentation
Include any required attachments such as receipts, photos, or progress reports.
Step 4: Submit and Track Payment Status
Send the draw to the owner for approval and monitor its payment status directly from the dashboard.
Note: The system logs all communications and documents, eliminating the need to chase emails or manage multiple file versions.
Summary
The Prime Contract feature empowers GCs to manage their owner-facing contracts from start to finish—ensuring accuracy, reducing risk, and improving communication. From setting up the contract to billing through draws, this tool is the central hub for all contract-related actions on a project.
FAQ
What is the Prime Contract feature designed for?
The Prime Contract feature is designed to provide General Contractors (GCs) with full control over their contractual relationship with the owner, allowing them to manage contract files, schedule of values, change orders, and draw submissions efficiently.
How do I set up my Prime Contract?
To set up your Prime Contract, navigate to the Prime Contract module, upload relevant contract files, modify draw settings, and update required documents.
What is the Schedule of Values (SOV)?
The Schedule of Values (SOV) allows GCs to break down the total contract value into manageable cost items essential for billing and tracking project progress.
Can I edit line items in the Schedule of Values?
Yes, you can edit line items in the Schedule of Values, including adjusting quantities or dollar amounts as needed.
What are change orders used for?
Change orders are used to manage modifications to the original contract, including cost increases, scope changes, or additional work.
How do I submit a draw?
To submit a draw, initiate a new draw from within the Prime Contract, pull data from the SOV, attach required documentation, and submit it for owner approval.
Does the system track payment status for draws?
Yes, the system allows you to monitor the payment status of submitted draws directly from the dashboard.
Is it necessary to upload required documents for each draw submission?
Yes, you need to upload any required documents that accompany each draw or change order submission.
How does the Prime Contract feature improve communication?
The Prime Contract feature streamlines communication, enhances visibility, and reduces administrative risk across a project’s lifecycle.