What Is A Draw Request

CLIENT MANAGEMENT DOCUMENTS --

The Draw Request

This discussion is presented as a matter of business management. Any action on your part should be discussed with your legal counsel. Builder-Resources.com is not a legal advisor, and is not practicing law by discussing this business document. Please refer to the Builder-Resources.com site disclaimer .

How to Use the Draw Request Form

The draw request form shown accomplishes several things.

First, it makes a demand for the contractual amount due the Builder at a certain stage or milestone, as defined in the contract.

Second, it documents the additions and subtractions to the contracted amount to-date for the project. In so doing, it eliminates the claim on the part of the Buyer that "I had no idea.....".

Third, it tracks the finances of the entire project. Everyone involved is aware of how much money has been paid on previous draws, the amount of this draw, and how much remains to pay for the project from the original commitment.

It often happens that the Buyer gets carried away with additions and changes in the first part of the project, and then is amazed that there is no funding remaining at the end of the the project. The process of interim draws and a complete accounting keep all parties aware of the cash flow on the project.

The Draw Request works with the Notice of Acceptance (NOA). The NOA indicates that the Buyer is satisfied with the Project to date. The Draw Request is how the Builder acts on the Buyer approval, by requesting payment per the contract.

View sample Draw Request

Download sample Draw Request

An Alternative to Creating Your Own Documents

The PDF and description of the document above provides sufficient information for you to replicate the document.

However, you may want to consider purchasing the entire Client Management package, consisting of:

a dashboard with all the important job information entered one time in one place and then distributed to all the other documents,
twenty interlinked Confirmations of Instructions,
eight Notices of Acceptance,
eight Draw Requests,
three copies of the Delay Notice, and
three copies of the Restart Notice.
More than an hour of instructions and suggestions for how to use the documents