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.
The New Hampshire Contractor's Affidavit to Induce Lender to Release Funds — Final Payment is a crucial document used in the construction industry. This affidavit serves as a formal request from a contractor to a lender, urging them to release the final payment to the contractor upon the satisfactory completion of a construction project. By submitting this affidavit, the contractor is affirming their compliance with all contractual obligations, including the payment of subcontractors, suppliers, and other parties involved in the project. Keywords: New Hampshire, Contractor's Affidavit, Induce Lender, Release Funds, Final Payment, Construction Project, Satisfactory Completion, Compliance, Subcontractors, Suppliers. Different types of New Hampshire Contractor's Affidavit to Induce Lender to Release Funds — Final Payment: 1. General Contractor's Affidavit: This type of affidavit is issued by the main or general contractor on a construction project. It certifies that all work has been completed as per the contract terms and that all payments to subcontractors, suppliers, and laborers have been fulfilled. 2. Subcontractor's Affidavit: This variation is specifically used by subcontractors who have performed work or supplied materials on a construction project. It verifies that the subcontractor has met their obligations and affirms that they have been properly compensated. 3. Supplier's Affidavit: This specific affidavit is provided by suppliers who have furnished materials, equipment, or services to a construction project. It ensures that the supplier has been paid accordingly and maintains compliance with contractual agreements. 4. Material Supplier's Affidavit: This type of affidavit is primarily used by suppliers who have solely provided materials for a construction project. It confirms that all materials have been delivered and paid for, fulfilling their contractual responsibilities. 5. Laborer's Affidavit: This affidavit is issued by individual laborers who have directly contributed to the construction project. It attests that the laborer has received payment for their services and acknowledges their adherence to the contracted terms. These various forms of the New Hampshire Contractor's Affidavit to Induce Lender to Release Funds — Final Payment cater to different parties involved in the construction process, ensuring transparency, proper compensation, and overall project completion. Contractors, subcontractors, suppliers, and laborers should utilize the appropriate affidavit type according to their roles and responsibilities in the project.
