North Carolina Contractor's Final Affidavit of Payment to Subcontractors
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FAQ
Set a payment schedule in the contract. You never want to pay a contractor more than 50% up front. Depending on the size of the job, your initial payment is ideally going to be no more than roughly 30% of the total cost of the project.
When the subcontractor does not get paid then they have grounds to pursue the contractor for monies owed. This could be in the form of wages or unpaid invoices for services rendered. In the USA, the owner of the property can be held liable for payment under a Mechanics Lien.
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.
North Carolina has a three-year statute of limitations period on actions for breach of contract and negligence. This means that claims based on a contract with the builder must be brought within this period, or they are barred.
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.
Paying subcontractorsYou usually pay your subcontractors directly. But you can pay them through a third party (such as a relative or debt company) if they ask you to. If you make deductions, you must give the subcontractor a payment and deduction statement within 14 days of the end of each tax month.
In North Carolina, pay-when-paid clauses are unenforceable. In South Carolina, however, they generally can be enforced; so standard contracts issued in the state may contain the provision.
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.
Public projects As for payments to subcontractors, both periodic and final payments are covered under the statute. North Carolina law states that once a prime contractor receives payment from the public entity, they are required to pay their subs and suppliers within 7 days of receipt.