The Contractor's Final Payment Affidavit is a crucial document in U.S. construction project closeout procedures. It's typically required by state laws and construction contracts before the release of final payment to ensure that all project obligations have been met. The affidavit serves multiple purposes: it protects property owners from potential mechanic's liens, provides documentation for lenders, and helps contractors formally close out their projects. The document must comply with state-specific requirements and usually requires notarization to be legally valid.
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1. Affiant Information: Contractor's legal name, address, and role in the project
2. Project Information: Details of the construction project, including location and contract reference
3. Payment Declaration: Statement of final payment amount and confirmation all prior payments received
4. Lien Waiver: Waiver of rights to file liens against the property
5. Subcontractor Payment Confirmation: Declaration that all subcontractors and suppliers have been paid
1. Conditional Release: Release of claims conditional upon receipt of final payment - used when final payment hasn't yet been received
2. Exceptions Schedule: List of any outstanding claims or disputes - used when there are unresolved payment issues
1. Schedule of Subcontractors: List of all subcontractors with payment status
2. Schedule of Suppliers: List of all material suppliers with payment status
3. Supporting Documentation: Copies of final lien waivers from subcontractors and suppliers
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