Which of the following should be included for the schedule of progress payments?

Including the date or stage when each payment is due in the schedule of progress payments is essential for several reasons. It establishes a clear timeline for both the contractor and the client, ensuring mutual understanding and expectations regarding the timing of payments throughout the project's duration. By specifying when payments are expected—whether at completion of particular milestones or on specific dates—the schedule helps to facilitate cash flow management for the contractor, allowing for timely payments to suppliers and subcontractors, as well as avoiding potential delays in the project due to financial concerns.

The other options, while relevant to the overall contracting process, do not directly pertain to the schedule of progress payments in the same way. The final project completion date is important for project tracking but doesn’t specify the payment schedule itself. A cost breakdown of materials provides insights into financial planning but lacks the specific timing aspect crucial for progress payments. Similarly, listing subcontractors involved may be informative for project management purposes but does not address the payment schedule directly. Therefore, specifying the payment schedule with clear due dates or stages helps further clarify the financial obligations tied to the project’s progress.