Construction Contract Payment Schedule Calculator
Calculate milestone-based payment schedules for construction contracts including retainage withholding, progress payments, and final payment amounts.
Formulas Used
Mobilization Payment: Mobilization ($) = Contract Value × (Mobilization % ÷ 100)
Progress Payment Allocation: Remaining % = 100% − Mobilization % − Substantial Completion %
Each Milestone % = Remaining % ÷ Number of Milestones
Gross Milestone Payment = Contract Value × (Each Milestone % ÷ 100)
Retainage Withholding: Retainage per Payment = Gross Payment × (Retainage % ÷ 100)
Net Payment = Gross Payment × (1 − Retainage % ÷ 100)
Substantial Completion: Substantial Completion ($) = Contract Value × (Substantial Completion % ÷ 100)
Net Substantial = Substantial Gross × (1 − Retainage % ÷ 100)
Final Payment (Retainage Release): Final Payment = Σ All Retainage Withheld = (Retainage per Milestone × Number of Milestones) + Retainage on Substantial Completion
Verification: Total Paid = Mobilization + (Net per Milestone × Milestones) + Net Substantial + Final Payment = Contract Value ✓