AIA G702 and G703: How to Submit a Draw Request Your Lender Will Actually Approve

Every construction lender has seen a draw request so poorly assembled it had to be sent back three times before approval. The most common culprit? Incomplete or incorrect AIA G702 and G703 forms.

This guide covers exactly what these forms are, the mistakes GCs make most often, what lenders actually look at, and how to submit draw requests that get approved on the first pass.

What Are AIA G702 and G703?

The AIA G702 (Application and Certificate for Payment) and G703 (Continuation Sheet) are the construction industry's standard forms for requesting payment on a construction project.

G702 is the cover sheet. It summarizes:

• The original contract amount
• Approved change orders to date
• Total completed and stored to date
• Retainage withheld
• The net amount of the current payment request

G703 is the continuation sheet. It breaks down the work by line item from the Schedule of Values, showing:

• The scheduled value for each line
• Work completed to date (previous draws + current draw)
• Materials stored on site
• Percentage complete

Together, they give your lender the complete picture of where your project stands financially.

Common Mistakes GCs Make on G702/G703

These are the errors that cause draw requests to get kicked back:

1. Math that doesn't foot

The most embarrassing — and most common — error. The totals on G703 don't match the summary on G702. This immediately flags the draw for manual review and usually means a rejection and resubmission.

2. Incomplete Schedule of Values

If your SOV doesn't match the contract (including all approved change orders), lenders will flag the discrepancy. Every change order needs to be reflected as a line item or roll-up before you draw against it.

3. Claiming work before lien waivers are collected

Most lenders won't approve a draw line item if there's no lien waiver from the subcontractor who did the work. Submitting without collecting waivers first guarantees a delay.

4. Missing stored materials documentation

If you're claiming stored materials (not yet installed), you need invoices and proof of purchase. Lenders want to see the materials actually exist before they fund them.

5. Percentage-complete claims that don't match inspections

If your lender sends an inspector and the inspector sees 40% completion on framing, don't claim 60%. Inconsistencies between inspector reports and G702/G703 submissions are a red flag.

What Lenders Actually Look For

From conversations with lenders who use DrawStack's portal, here's what gets a draw approved fast:

• Clean math — totals foot perfectly, both horizontally and vertically on G703
• Supporting documentation — invoices for every line item claimed, lien waivers collected
• Consistent SOV — the SOV hasn't changed without an approved change order
• Reasonable percentage claims — claims are consistent with inspection reports or photos
• No gaps in the draw history — every prior draw has been properly documented

The lenders who approve fastest are the ones whose GCs submit complete, consistent packages every time.

Step-by-Step Draw Submission Checklist

Use this checklist before submitting any draw request:

• [ ] SOV is current and reflects all approved change orders
• [ ] Each line item percentage is supported by inspection report or site photos
• [ ] All subcontractor invoices are collected and match the amounts claimed
• [ ] Conditional lien waivers collected from all subs billing in this draw
• [ ] Any stored materials have supporting invoices
• [ ] G703 line items total matches G702 summary
• [ ] Retainage amounts are correctly calculated per contract terms
• [ ] Prior draw has been funded (or document why it hasn't)
• [ ] All required compliance documents (insurance certs, etc.) are current

How DrawStack Auto-Generates G702-Compatible PDFs

Assembling G702/G703 by hand is tedious and error-prone. DrawStack generates bank-ready draw PDFs automatically from your Schedule of Values — no manual form filling.

Here's how it works:

1. Your SOV is the source of truth. Import it via CSV or enter it manually when creating your project. Every draw pulls from the same SOV.

2. Enter percentages for this draw. Tap on each line item and enter the percentage complete (or dollar amount). DrawStack handles the math.

3. Add stored materials. If you're claiming stored materials, upload the supporting invoices. DrawStack includes them in the package.

4. Collect lien waivers. DrawStack tracks waiver status per sub per draw. You can see at a glance who still needs to sign before you're ready to submit.

5. Generate the PDF. One click produces a G702/G703-compatible PDF formatted for bank submission. The math is guaranteed to foot.

6. Submit to your lender. Your lender reviews the draw through the DrawStack portal — they can see the PDF, the supporting invoices, and the lien waivers all in one place.

The result: draw packages that are complete, accurate, and ready for approval on first submission.

See how DrawStack handles G702/G703 generation →