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Step-by-step instructions for specifying and processing stockpile payments in construction contracts. Learn how to assess payments accurately and efficiently with practical examples and tips.
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A GUIDE FOR THE SPECIFICATIONS AND PAYMENT OF STOCKPILED MATERIALS Kevin Hanlon, PE Civil Engineer II Contracts Section
Step 1 is to select the contract list located Under the “File” tab Step 2 is to highlight the contract that the stockpile payment is to be assessed towards
Step 2: Select the “Add” Icon Step 1: Select the ‘stockpile” icon
Step 2; From the Stockpile Description window, select one of the Descriptions (It doesn’t matter which description, just pick one, and each Description can only be chosen once)and then hit Next. Step 1; click on the down arrow from the Stockpile Description
From the Stockpile Description window, type the description of the stockpile, this will appear in under the “Comments” heading on the Stockpiles main page. For Example “stockpile payment for 503 reinf steel”
Must enter a Transaction Comment, then select “Next” at the bottom of the page. Enter the payment amount for the stockpile, if more than one stockpile transaction, enter the sum of all the bills.
Select the “Add Item” link and the item list for your contract will appear
Ensure that the Project number and Category are correct Select the item that the stockpile is going to be assessed towards by double clicking on the line item
If the Transaction Amount is for more than one stockpile item, add more items by selecting this add item link Input the Assigned Dollar Amount, if there is only one stockpile item, then the Assigned Dollar Amount will be equal to the Transaction Amount, if more than one stockpile item, the Assigned Dollar Amount will be the portion of the Transaction amount dedicated towards the highlighted Item on this page. Select “next” to continue
You must input either the “Recovery Factor” or “Recovery Quantity”. The Policy is to use the fastest Recovery Quantity available. Select “Finish” will save this Stockpile transaction
At this point the Stockpile Transaction is complete, The Stockpile payment will automatically appear on the next estimate and the recovery of the Stockpile payment will also occur automatically as quantities are posted towards the item(s).