Free Construction Payment Schedule Template

Easily create and send payment schedules for your construction projects in Excel or Google Sheets.

This free printable construction payment schedule template has been created by BuildBook as a simple way for contractors, home builders, and remodelers to quickly create, download, and send project payment schedules to clients.

Just use the fill-in-the-blank inputs to add your company and client details, calculate the number of payments, schedule payments, and download, print, or share your pre-formatted schedule. You can create and send your schedules in just minutes.

This template has everything you need and is provided free of charge, and can be used without restrictions in Excel or Google Sheets.

Download Template NowFree contractor invoice templateA free scope of work template for excel or google sheets

A construction payments template built for contractors, home builders, and remodelers

This construction payment schedule template has been created by BuildBook with everything you need to reduce the time it takes to create and send schedules for your construction project payments ... and it's completely free!

Here's everything included with this template

  1. Step-by-step instructions that will guide you through the entire template
  2. Simple inputs for company branding and client personalization
  3. Payment calculator to help determine payment totals
  4. Payment schedule builder and payment status tracker
  5. Built-in formulas and drop-downs to save you time
  6. Pre-formatted and ready-to-print payment schedule

Create and send a construction payment schedule in just minutes

1. Contact details

contractor invoice client section

Add your company details, upload your logo and personalize the schedule for your client.

2. Schedule details

scope of work deliverables

Schedule each payment, determine the amount, and the payment status.

3. Download/Print

statement of work example

When ready, download or print your formatted payment schedule to keep or share.

Download Template Now

What is a construction payment schedule template?

A construction payment schedule, also sometimes referred to as a contractor payment schedule, is a plan that outlines when payments are due for different phases of a construction project. It typically includes milestones or kick-off and completion points that align with payments, ensuring that the project is properly funded and the work is completed according to a schedule.

What are the common payment milestones in residential construction?

Some common payment milestones in a construction payment schedule may include:

Project Kick-off

This initial payment is made before any work begins, often used to secure the contract and purchase materials.

Phase Completion

For projects divided into distinct phases (i.e. foundation, framing, roofing), payments are made upon the completion of each phase. This ensures progress is continuously funded.

Substantial Completion

This is paid when the project is substantially completed, meaning all major work is done and the property is usable for its intended purpose, albeit minor tasks might still need to be completed.

Final Payment

The last payment is made once the project is completed to the satisfaction of both the client and the contractor, including the finishing of all minor corrections or punch list items.

Change Order Payment

Additional payments can be included for any changes or additions to the original contract. These are negotiated and agreed upon as changes are made.

What should a construction payment schedule include?

In addition to the milestones for payment, a comprehensive construction payment schedule often details specific terms and conditions relevant to the payment process. This includes the total project cost, a description of costs associated with each phase or milestone, due dates for each payment, and the forms of payment that are accepted.

A payment schedule may also outline the process for handling disputes, payment and schedule delays, or changes made during the project. In certain cases, the schedule might need to serve as a legally binding document, acting as part of a contract protecting both the contractor and the client.

Ultimately, a construction payment schedule should include whatever is necessary to provide transparency and mutual understanding between the client and contractor.

Example of a residential construction project payment schedule

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