Hud 51001 Form PDF Details

The HUD 51001 form, titled "Periodic Estimate for Partial Payment," serves as a critical tool within the realm of the U.S. Department of Housing and Urban Development, particularly under the Office of Public and Indian Housing. This document is a conduit through which contractors or subcontractors can report progress on work for project developments, ensuring that such developments adhere to state laws and HUD's stringent requirements. Its primary function is to facilitate the calculation and request for partial payments based on the work completed to date, incorporating details such as payments, change orders, and schedules of materials stored. With this form, Public Housing Agencies (PHAs) are endowed with a mechanism to monitor the cost of development projects, aiming to keep them within the constraints of both the budget and HUD's construction standards. The form, due for submission in its original and a copy to the relevant Public Housing Agency, encompasses a comprehensive layout. It requires detailed inputs like the name of the Public Housing Agency, Periodic Estimate Number, and specific information regarding the project location, project number, and contractor details. Moreover, it serves a dual purpose by not only streamlining the reporting process but also ensuring compliance with legal requirements concerning labor wages and material bills. Completing this form is not a mere administrative task; it embodies a legal certification from contractors or their authorized representatives that the reported work and associated costs are accurate and in compliance with the contract terms. The function and process encapsulated by the HUD 51001 form make it an indispensable document in maintaining the integrity and financial discipline of housing development projects under the auspices of HUD.

QuestionAnswer
Form NameHud 51001 Form
Form Length2 pages
Fillable?No
Fillable fields0
Avg. time to fill out30 sec
Other nameshud partial, form partial release of mortgage, how to hud payment, hud form 51001 pdf

Form Preview Example

Periodic Estimate for Partial Payment

U.S. Department of Housing

OMB Approval No. 2577-0157

and Urban Development

(exp. 01/31/2014)

Office of Public and Indian Housing

 

Submit original and one copy to the Public Housing Agency. Complete instructions are on the back of this form.

Public reporting burden for this collection of information is estimated to average 3.5 hours per response, including the time for reviewing instructions, searching existing data sources, gathering and maintaining the data needed, and completing and reviewing the collection of in formation. This agency may not conduct or sponsor, and a person is not required to respond to, a collection of information unless that collecton displays a valid OMB control number.

This information is collected under the authority of Section 6(c) of the U.S Housing Act of l937 and HUD regulations. HAs are responsible for contract administration to ensure that the work for project development is done in accordance with State laws and HUD requirements. The contractor/subcontractor reports provide details and summaries on payments, change orders, and schedule of materials stored for the project The information will be used to ensure that the total development costs, identified in the ACC, are kept as low as possible and consistent with HUD construction req uirements. Responses to the collection are necessary to obtain a benefit. The information requested does not lend itself to confidentiality.

Name of Public Housing Agency

Periodic Estimate Number

Period

From (mm/dd/yyyy) To (mm/dd/yyyy)

Location of Project

Project Number

 

 

Name of Contractor

Contract Number

Item Number

Description of Item

Completed to Date

(1)

(2)

(3)

 

 

 

 

 

$

Value of Contract Work Completed to Date (Transfer this total to line 5 on back of this sheet)

Previous editions are obsolete

ref. Handbooks 7417.1 & 7450.1

form HUD-51001 (3/92)

Instructions

Headings. Enter all identifying data required. Periodic estimates must be numbered in sequence beginning with the number 1.

Columns 1 and 2. The"Item Number"and "Description of Item" must correspond to the number and descriptive title assigned to each principal division of work in the "Schedule of Amounts for Contract Payments", form HUD-51000.

Column 3. Enter the accumulated value of each principal division of work completed as of the closing date of the periodic estimate. Enter the total in the space provided.

Certifications. The certification of the contractor includes the analysis of amounts used to determine the net balance due. In the first paragraph, enter the name of the Public Housing Agency, the contractor, and the date of the contract. Enter the calculations used in arriving at the "Balance Due This Payment" on lines 1 through 16.

Enter the contractor's name and signature in the certification following line 16.

The latter portion of this certification relating to payment of legal rates of wages, is required by the contract before any payment may be made. However, if the contractor does not choose to certify on behalf of his/her subcontractors to wage payments made by them, he/she may modify the language to cover only himself /herself and attach a list of all subcontractors who employed labor on the site during the period covered by the Periodic Estimate, together with the individual certifications of each.

Certification of the Contractor or Duly Authorized Representative

According to the best of my knowledge and belief, I certify that all items and amounts shown on the other side of this form a re correct; that all work has been performed and material supplied in full accordance with the items and conditions of the contract between the (name of owner)

_______________________________________________________ and (contractor) ___________________________________________________________

d a t e d ( m m / d d / y y y y )

,

a n d d u l y a u t h o r i z e d d e v i a t i o n s , s u b s t i t u t i o n s , a l t e r a t i o n s , a n d a d d i t i o n s ;

that the following is a true and correct statement of the Contract Account up to and including the last day of the period covered by this estimate, and that no part of the "Balance Due This Payment" has been received.

1.

Original Contract Amount

 

 

$

Approved Change Orders:

 

 

 

2.

Additions (Total from Col. 3, form HUD-51002)

$

_________________

 

3.

Deductions (Total from Col. 5, form HUD-51002)

$

__________________________ (net) $ _________________

 

4.

Current Adjusted Contract Amount (line 1 plus or minus net)

$

Computation of Balance Due this Payment

 

 

 

5.

Value of Original Contract work completed to date (from other side of this form)

$

Completed Under Approved Change Orders

 

 

 

6.

Additions (from Col. 4, form HUD-51002)

$

_________________

 

7.

Deductions (from Col.5, form HUD-51002)

$

__________________________ (net) $ _________________

 

8.

Total Value of Work in Place (line 5 plus or minus net line 7)

$

9.

Less: Retainage,____________ %

$

_________________

 

10. Net amount earned to date (line 8 less line 9)

 

 

$

11.Less: Previously earned (line 10, last Periodic Estimate) $ _________________

12. Net amount due, work in place (line 10 less line 11)

$

Value of Materials Properly Stored

 

13. At close of this period (from form HUD-51004)

$

14. Less: Allowed last period

$

15. Increase (decrease) from amount allowed last period

$ ________________

16. Balance Due This Payment

$

I further certify that all just and lawful bills against the undersigned and his/her subcontractors for labor, material, and equipment employed in the performance of this contract have been paid in full in accordance with the terms and conditions of this contract, and that the undersigned and his/her subcontractors have complied with, or that there is an honest dispute with respect to, the labor provisions of this contract.

Name of ContractorSignature of Authorized Representative TitleDate (mm/dd/yyyy)

Certificate of Authorized Project Representative and of Contracting Officer

Each of us certifies that he/she has checked and verified this Periodic Estimate No. ___________ ; that to the best of his/her knowledge and belief it is a true

statement of the value of work performed and material supplied by the contractor; that all work and material included in this estimate has been inspected by him/her or by his/her authorized assistants; and that such work has been performed or supplied in full accordance with the drawings and specifications, the terms and conditions of the contract, and duly authorized deviations, substitutions, alterations, and additions, all of which have been duly approved.

We, therefore, approve as the "Balance Due this Payment" the amount of $ __________________ .

Authorized Project Representative

Date (mm/dd/yyyy) Contracting Officer

Date (mm/dd/yyyy)

Warning: HUD will prosecute false claims and statements. Conviction may result in criminal and/or civil penalties. (18 U.S.C. 1001, 1010, 1012; 31 U.S.C. 3729,

Previous editions are obsoleteref. Handbooks 7417.1 & 7450.1

form HUD-51001 (3/92) (3802)

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1. It's vital to complete the 51001 form fillable accurately, hence be attentive while filling in the sections containing these specific blank fields:

Part # 1 for filling in how to hud payment

2. Right after finishing this section, go on to the next stage and fill in the essential particulars in these blank fields - Value of Contract Work Completed, Previous editions are obsolete, ref Handbooks, and form HUD.

Value of Contract Work Completed, ref Handbooks, and form HUD in how to hud payment

3. Completing Certification of the Contractor or, Original Contract Amount, Approved Change Orders, Additions Total from Col form, net, Computation of Balance Due this, Value of Original Contract work, Completed Under Approved Change, Additions from Col form HUD, net, Less Previously earned line last, Net amount due work in place line, and At close of this period from form is essential for the next step, make sure to fill them out in their entirety. Don't miss any details!

Writing section 3 of how to hud payment

4. Completing At close of this period from form, I further certify that all just, Name of Contractor, Signature of Authorized, Title, Date mmddyyyy, Certificate of Authorized Project, Date mmddyyyy Contracting Officer, Date mmddyyyy, Warning HUD will prosecute false, and form HUD is crucial in this section - be sure to devote some time and fill out each and every empty field!

Filling in segment 4 of how to hud payment

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