The right to execute and deliver a stop notice or a notice to withhold funds is a remedy closely related to a mechanic's lien. When a stop notice or a notice to withhold funds is received by an individual or a firm holding the construction funds for a project, the individual or firm must withhold from its disbursements sufficient money to satisfy the stop notice claim. In this form, the claimant is informing the appropriate court clerk that he has settled the claim and is authorizing the court clerk to discharge of record the Stop Notice.
This form is a generic example that may be referred to when preparing such a form for your particular state. It is for illustrative purposes only. Local laws should be consulted to determine any specific requirements for such a form in a particular jurisdiction.
The North Dakota Certificate of Satisfaction of Stop Notice Claim or Notice to Withhold Funds is a legal document used in the state of North Dakota to release a stop notice claim, which is a notice given by a subcontractor or supplier to withhold funds from the contractor's payment. This certificate serves as proof of satisfaction of the stop notice claim or the release of withheld funds. A stop notice claim is usually filed by a subcontractor or supplier when they have not been paid by the contractor for the materials or services provided on a construction project. It allows them to place a hold on the funds owed to the contractor, thereby ensuring their payment. However, once the payment is received, the subcontractor or supplier must file a Certificate of Satisfaction to release the claim and the funds withheld. The Certificate of Satisfaction of Stop Notice Claim or Notice to Withhold Funds typically includes the following information: 1. Information about the claimant: This includes the name, address, and contact details of the subcontractor or supplier who initiated the stop notice claim. 2. Project details: This section will include information about the project, such as the name, address, and description, to identify the construction site. 3. Contractor details: The certificate will require details about the contractor, such as their name, address, and contact information, to identify the party from whom the claim was made. 4. Stop notice claim details: This section will outline the details of the stop notice claim, including the date it was filed, the amount claimed, and any project-specific information required. 5. Satisfaction of claim: The certificate will include a statement declaring that the stop notice claim has been satisfied, and the claimant acknowledges receipt of payment in full. Different types of Certificates of Satisfaction or Release of Stop Notice Claim may be required based on the specific circumstances and the party involved in the construction project. For example: 1. Subcontractor's Certificate of Satisfaction: This document is filed by a subcontractor to release their stop notice claim. 2. Supplier's Certificate of Satisfaction: This certificate is filed by a supplier to release their stop notice claim. 3. General Contractor's Certificate of Satisfaction: In the event that a subcontractor or supplier files a stop notice claim against the general contractor, this certificate is filed by the general contractor to release the claim and withheld funds. The North Dakota Certificate of Satisfaction of Stop Notice Claim or Notice to Withhold Funds is a crucial document in the construction industry. It ensures transparency and allows for the timely release of funds to the parties involved in a construction project, while also protecting the rights of subcontractors and suppliers. It is important to familiarize oneself with the specific requirements and regulations surrounding stop notice claims and certificates of satisfaction in North Dakota to ensure compliance and facilitate smooth construction operations.
