The Hawaii Contractor's Affidavit of Payment to Subs is a legal document used in the construction industry in Hawaii. It serves as an official statement by a contractor, affirming that they have paid their subcontractors and suppliers for the work performed or materials provided on a construction project. This affidavit is an essential part of the lien release process in Hawaii and is typically required by property owners, lenders, or title companies before final payment is made to the contractor. Its purpose is to protect the property owner from potential liens or claims by unpaid subcontractors or suppliers. The affidavit contains several key elements: 1. Contractor Information: It includes the contractor's full legal name, address, contractor's license number, and contact details. 2. Project Information: The affidavit specifies the project's name, location, and a brief description of the work performed or materials provided. 3. Subcontractor and Supplier Information: The document requires a detailed list of subcontractors and suppliers involved in the project. Each entry includes their full legal name, address, and the amount paid to them. 4. Payment Details: The affidavit states the total amount paid to each subcontractor or supplier, along with the payment method used (e.g., check, electronic transfer) and the date of payment. 5. Certification: The contractor must sign the affidavit, certifying under penalty of perjury that the information provided is true and accurate to the best of their knowledge. The signature must be notarized to validate the document's authenticity. Hawaii Contractor's Affidavit of Payment to Subs may have different variations or names depending on specific requirements or organizations involved in the construction project. However, the key purpose and content remain consistent. It is important for contractors in Hawaii to maintain accurate records of payments made to subcontractors and suppliers, as failure to provide a valid affidavit can result in delays in receiving final payment or potential legal disputes.
Hawaii Contractor's Affidavit of Payment to Subs
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How to fill out Contractor's Affidavit Of Payment To Subs?
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Building and Construction Prime contractors looking for subcontractors hire electricians, plumbers, carpenters, carpet layers, painters, landscapers, roofers and flooring specialists to do most of the work.
PURPOSE: To provide for methodical and orderly effort in which a subcontractor or vendor is legally notified to address contractual deficiencies and/or to be terminated.
The average pre-tax net profit for subcontractors is between 2.2 to 3.5 percent. To compensate for the risk, this is barely enough for most contractors to survive. Contractor markup is the percentage added to your direct costs to cover profit and overhead.
A nominated sub-contractor is one that is selected by the client to carry out an element of the works and then imposed on the main contractor after the main contractor has been appointed.
200dA 'Payment Notice' is the document the contractor (the employer) serves the subcontractor (the employee) providing details of what's payable and why. This is known as the 'Notified Sum' and this is what will be paid on the 'Final Date for Payment' (see below).
What does Payment Notice mean? A notice given under HGCRA 1996, s 110A by a payer (or specified person) or the payee setting out the amount to be paid and how it is calculated. Most standard form contracts provide that the notice is to be given by the payer (or specified person).
When Can Contractors Withhold Payment From Subcontractors? The main contractor is able to withhold payment if the work or goods supplied by a subcontractor are deemed unsuitable. Evidence of this should always be provided along with the option to rectify any shortcomings.
If the contractor defaults or otherwise doesn't take care of your wages, you can file a claim with the surety company to get at least part of your money. The surety company then takes the contractor to court to recover the amount.
The most common causes of back charges are defective work, damages to the property caused by performance of your work, costs for use of contractor's equipment, and site clean-up costs.
The main contractor is able to withhold payment if the work or goods supplied by a subcontractor are deemed unsuitable. Evidence of this should always be provided along with the option to rectify any shortcomings.
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