The Schedule of Values is a sheet on which items are listed along with their unit prices, quantities, and summaries of what has been paid and what is being certified for payment. It provides a general overview of the project status. Depending on how the contract is written, it can be a lump sum value or an itemized list that will provide a better understanding of the work being billed. The client gets a benefit.
The client shall pay the Contractor stage by stage from the grand total, at the start of the construction, and client need to hand over the payment for the next stage after completion of 75% of the previous step as to purchase the material for the next stage construction.