Directly Under the SOV and above your Named Project there is an Indicator that shows you the status of your project as it relates to the Contractor.
The different indicators will tell the Owner (and Lender) what the status of your SOV budget is with your Contractor. – Yes, the Lender can see this indicator.
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= Owner’s SOV only, no other outside involvement |
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= Sent to Contractor |
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= Contractor has submitted Bid |
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= Contractor & Owner have both agreed - project is actionable |
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= project is archived and viewable |