Approve a Prime Contract

Objective

To change the status of a main contract for a construction project to 'Approved.'

Background

After the prime contract is created, you can follow the steps in Update the Schedule of Values (SOV) on a Prime Contract. Once the line items on the SOV are complete and the agreement between the project owner and your company is finalized, you can place the contract into the Approved status. This action allows your project team to begin creating change orders (see Create a Prime Contract Change Order (PCCO)), owner invoices (see Create an Owner Invoice), and payments issued (see Create a Payment Issued).  

Things to Consider

• Required User Permissions:
  • 'Admin' level permissions on the project's Main Contracts tool
• Additional Information:
  After you complete the steps below, your project team can then perform the following tasks:
  • Create a Prime Contract Change Order (PCCO)
  • Create an Owner Invoice
  • Create a Payment Received

Prerequisites

• Create a main contract. See Create Main Contracts.
• Update the prime contract's Schedule of Values (SOV). See Update the Schedule of Values (SOV) on a Prime Contract.
• Confirm that all parties to the prime contract are in agreement prior to changing its status to 'Approved.' 

Steps

1. Navigate to the project's Main Contracts tool.
2. Locate the main contract to work with. Then click its Number link. 
3. Click the Edit button.
4. Under General Information, choose Approved from the Status drop-down list.
   
   
    
5. Click Save or Save and Email.

Next Steps

• Create a Prime Contract Change Order (PCCO)
• Create an Owner Invoice
• Create a Payment Received

See Also

• Create Main Contracts