I have a question regarding jobs where a contingency has been included as part of the the contract sum... I think I confused myself.
Say a couple lintels got missed on a project, and it's first noticed during construction. GC submits a cost, and there is ample contingency money to cover the cost.
These become substractions to the contingency line on the G703. So, doing it this way, and as long as the contingency holds out, no Change Orders appear on line 2 of pay app G702.
Is this basically correct? (I know there is more than one way to skin this cat.)