The Indiana Contractor's Affidavit of Payment to Subs is a legal document used by contractors in the state of Indiana to confirm that they have made timely and full payments to subcontractors and suppliers involved in a construction project. This affidavit serves as proof that the contractor has met their financial obligations and paid all parties as required by law. Keywords: Indiana, contractor, affidavit, payment, subs, subcontractors, suppliers, construction project, financial obligations, proof, legal. There are two different types of Indiana Contractor's Affidavit of Payment to Subs: 1. Original Affidavit of Payment to Subs: This is the initial affidavit submitted by the contractor, stating that they have made all necessary payments to subcontractors and suppliers up to a specific date. This document is typically filed with the project owner, general contractor, or construction lender to provide assurance that payments have been properly disbursed. 2. Revised Affidavit of Payment to Subs: In cases where additional payments to subcontractors or suppliers are made after the initial affidavit has been submitted, a revised affidavit may be required. This document outlines any updates or changes to the payment information previously provided, ensuring that all parties are aware of the most current payment status. Both types of affidavits are important in the construction industry as they help establish transparency and accountability in payment practices. By requiring contractors to submit these affidavits, Indiana aims to protect subcontractors and suppliers from non-payment and ensure fair and timely compensation for their contributions to a construction project.
Indiana Contractor's Affidavit of Payment to Subs
Description
How to fill out Indiana Contractor's Affidavit Of Payment To Subs?
US Legal Forms - one of the largest collections of legal documents in the United States - offers a variety of legal document templates that you can download or create.
By utilizing the website, you can access thousands of forms for business and personal purposes, organized by categories, states, or keywords. You can find the latest versions of forms like the Indiana Contractor's Affidavit of Payment to Subs within moments.
If you have a subscription, Log In to retrieve the Indiana Contractor's Affidavit of Payment to Subs from your US Legal Forms library. The Download button will appear on every form you view. You have access to all previously downloaded forms in the My documents section of your account.
Complete the purchase. Use your credit card or PayPal account to finalize the transaction.
Select the format and download the form onto your device. Edit. Fill out, modify, print, and sign the downloaded Indiana Contractor's Affidavit of Payment to Subs. Each template you add to your account has no expiration date and is yours indefinitely. So, if you wish to download or print another copy, simply go to the My documents section and click on the form you need. Access the Indiana Contractor's Affidavit of Payment to Subs with US Legal Forms, the most comprehensive collection of legal document templates. Utilize a vast array of professional and state-specific templates that meet your business or personal needs and requirements.
- If you want to use US Legal Forms for the first time, here are some simple steps to get you started.
- Make sure you have selected the right form for your city/county.
- Click the Review button to examine the form's details.
- Check the form description to ensure you've selected the correct form.
- If the form doesn't meet your needs, use the Search field at the top of the screen to find a suitable one.
- If you are pleased with the form, confirm your choice by clicking the Purchase now button.
- Then, select your preferred pricing plan and provide your information to register for an account.
Form popularity
FAQ
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.
The courts recognize the subcontractor's right to sue the owner directly for the payment of its claim to the extent that the master contract creates an express obligation on the owner's part (must) as opposed to a mere option (may) to make payment to the general contractor conditional upon the latter's having
AIA Document G706 is intended for use when the Contractor is required to provide a sworn statement verifying that debts and claims have been settled, except for those listed by the Contractor under EXCEPTIONS in the document. AIA Document G706 is typically executed as a condition of final payment.
How to get paid (faster) on every construction projectGet licensed.Write a credit policy.Prequalify potential customers.Get the contract in writing.Collect information about the property and other parties.Track your deadlines.Send Preliminary Notice.Submit Detailed Pay Applications or Invoices.More items...?
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.
The ability to withhold payment needs to be written out in the contract because, in most states, verbal agreements for commercial work are not binding and will not hold up in court. With a written contract that both parties agree to, it's safe for a contractor to withhold payment if a vendor becomes non-compliant.
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.
AIA Document G702®1992, Application and Certificate for Payment, and G703A®1992, Continuation Sheet, provide convenient and complete forms on which the contractor can apply for payment and the architect can certify that payment is due.
AIA Document G70621221994 requires the contractor to list any indebtedness or known claims in connection with the construction contract that have not been paid or otherwise satisfied.
Contractors and subcontractors don't affect your payroll, because they're not employees. When you negotiate a job with the contractor, generally, you agree to pay them a flat fee not a salary or hourly rate.
Interesting Questions
More info
E against slow paymentLevelset story PR NewsroomProduct updates LevelsetJoin team helpful customers Credit teams AR professionals AP professionalsSubs suppliers owners insurersSubcontractorsSuppliersGeneral contractorsOwnersInsurers envision world where construction loses night sleep over payment Learn more people against slow payment Level set story Newsroom Product updates Level set Join team help customers Credit teams professionals Subs suppliers owners insurersSubcontractorsSuppliers General contractors Owners Insurers envision world where construction loses night sleep over payment Learn more envision world where construction loses night sleep over payment Products Cash payments toolboxes rights managementLien waiver solutions Job researchers intelligenceMaterials financingDownload free forms Federal forms Contractor Affidavit Payment General Form Free Template Received document Sign LevelsetWe people against slow paymentLevelset story PR NewsroomProduct updates LevelsetJoin team