TL;DR
A schedule of values is an itemized breakdown of a construction contract price into line items for each work phase or trade, used as the basis for progress payments. Each pay application bills a percentage of completion against each line, so the owner and lender can verify that money paid tracks work in place.
What it means
A schedule of values is an itemized breakdown of a construction contract price into line items for each work phase or trade, used as the basis for progress payments. Each pay application bills a percentage of completion against each line, so the owner and lender can verify that money paid tracks work in place. Front-loading, where early items like mobilization are inflated, is the classic abuse to watch for when reviewing one.
Where it sits in the glossary
Schedule of values is part of the Trade jargon group inside the ProFix Directory glossary. Browse every term in this category from the glossary index.
Why Ohio homeowners should know it
This is a term Ohio homeowners encounter when reading contractor quotes, hiring paperwork, or inspection reports. Understanding it well enough to ask one good follow-up question is usually all the protection a homeowner needs.
ProFix Directory keeps definitions short on the index page and saves the longer context — Ohio-specific rules, where the term comes from, and which ProFix tools touch it — for these per-term pages so the term is easy to cite and easy to share.
ProFix tools that touch this term
See also
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