Indiana Contractor's Affidavit to Induce Lender to Release Funds - Final Payment

State:
Multi-State
Control #:
US-02484BG
Format:
Word; 
PDF; 
Rich Text
Instant download

Description

When the contractor requests final payment, a Final Contractor's Affidavit must be submitted to the lender. The Final Contractor's Affidavit lists all money due to potential lienors that have not been paid. The lender will typically require affidavits from each potential lienor assuring that they have been paid before releasing the final draw amount to the contractor.

Free preview
  • Preview Contractor's Affidavit to Induce Lender to Release Funds - Final Payment
  • Preview Contractor's Affidavit to Induce Lender to Release Funds - Final Payment
  • Preview Contractor's Affidavit to Induce Lender to Release Funds - Final Payment

How to fill out Contractor's Affidavit To Induce Lender To Release Funds - Final Payment?

Selecting the appropriate legal document template can be quite challenging. Certainly, there are numerous templates accessible online, but how can you find the legal form you require? Utilize the US Legal Forms website. This service offers a vast array of templates, including the Indiana Contractor's Affidavit to Induce Lender to Release Funds - Final Payment, which can be utilized for both business and personal purposes. All templates are reviewed by professionals and comply with federal and state regulations.

If you are already registered, Log In to your account and click the Obtain button to access the Indiana Contractor's Affidavit to Induce Lender to Release Funds - Final Payment. Use your account to review the legal templates you have previously purchased. Navigate to the My documents section of your account and obtain another copy of the document you need.

If you are a new user of US Legal Forms, here are simple instructions for you to follow: First, ensure that you have chosen the correct document for your city/state. You can preview the form using the Preview option and read the form description to confirm it is suitable for your needs. If the form does not meet your criteria, use the Search feature to find the proper document.

US Legal Forms is the premier repository of legal documents where you can find various document templates. Utilize this service to download professionally-crafted files that conform to state requirements.

  1. Once you have confirmed that the form is suitable, click the Get now button to obtain the document.
  2. Select the pricing plan you prefer and provide the required information.
  3. Create your account and pay for your order using your PayPal account or credit card.
  4. Choose the file format and download the legal document template to your device.
  5. Complete, edit, and print and sign the Indiana Contractor's Affidavit to Induce Lender to Release Funds - Final Payment.

Form popularity

FAQ

A "Conditional Waiver and Release Upon Progress Payment" discharges all claimant rights through a specific date, provided the payments have actually been received and processed. An "Unconditional Waiver and Release Upon Final Payment" extinguishes all claimant rights upon receipt of the payment.

An unconditional release means no restrictions are imposed on the release of the lien. This type of lien release is typically used in final project documents to verify the project completion, payment finalization, and your release of all future rights to file liens on the project.

A "Conditional Waiver and Release Upon Progress Payment" discharges all claimant rights through a specific date, provided the payments have actually been received and processed. An "Unconditional Waiver and Release Upon Final Payment" extinguishes all claimant rights upon receipt of the payment.

A Notice of Commencement is a document that formally sets the beginning date of a project, or the date on which a supplier first provided materials or labor.

In most states (37 of them), contractors and suppliers are generally allowed to file a lien even if they don't have a written contract. In other words, the contractor could be working off on a verbal agreement, and yet still have the ability to file a lien claim.

Unconditional Waiver and Release Upon Final Payment Use this form when the claimant is required to sign a waiver and release in exchange for, or in order to, induce a final payment and the claimant asserts in the waiver that he or she has received the final payment.

Conditional Waiver and Release Upon Final Payment Use this form when the claimant is required to sign a waiver and release in exchange for, or in order to, induce a final payment, and the claimant has not yet been paid. This release is only binding if there is evidence of payment to the claimant.

A Conditional Contractors Lien Release Form is a legal document basically stating that arrangements have been made to pay the lien by issuing a payment to the lien holder. The lien against the property shall be released only upon the condition that the payment clears the lending or banking institution.

An unconditional release means no restrictions are imposed on the release of the lien. This type of lien release is typically used in final project documents to verify the project completion, payment finalization, and your release of all future rights to file liens on the project.

Lien waivers generally come in two forms: conditional and unconditional. In a nutshell, conditional lien waivers show how much money is owing through a particular date, and unconditional lien waivers show how much money has been paid for work through a particular date.

Trusted and secure by over 3 million people of the world’s leading companies

Indiana Contractor's Affidavit to Induce Lender to Release Funds - Final Payment