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.
Dallas Texas Contractor's Affidavit to Induce Lender to Release Funds — Final Payment is a legal document that contractors in Dallas, Texas used to request the release of funds from a lender after completing a construction project. This affidavit serves as proof to the lender that all work has been successfully carried out as per the agreed specifications and contractual obligations. The document includes relevant keywords such as "contractor," "affidavit," "lender," "release of funds," and "final payment." There may be different types of Dallas Texas Contractor's Affidavit to Induce Lender to Release Funds — Final Payment, which include: 1. General Contractor's Affidavit: This type of affidavit is used by general contractors who oversee the entire construction project, managing subcontractors and suppliers. 2. Subcontractor's Affidavit: Subcontractors who have been hired by the general contractor can submit this affidavit to request the release of funds for their specific part of the project. 3. Material Supplier's Affidavit: Material suppliers who have provided necessary construction materials can submit this affidavit to ensure they receive the final payment for their supplies. 4. Trade-Specific Contractor's Affidavit: In cases where the construction project involves specialized contractors, such as electricians, plumbers, or HVAC technicians, they may need to submit a trade-specific affidavit to induce the lender to release funds. Each type of affidavit serves the purpose of assuring the lender that the contractor has fulfilled their obligations and is entitled to receive the final payment. It is essential for contractors to carefully complete and submit the relevant affidavit to ensure a smooth and timely release of funds.Dallas Texas Contractor's Affidavit to Induce Lender to Release Funds — Final Payment is a legal document that contractors in Dallas, Texas used to request the release of funds from a lender after completing a construction project. This affidavit serves as proof to the lender that all work has been successfully carried out as per the agreed specifications and contractual obligations. The document includes relevant keywords such as "contractor," "affidavit," "lender," "release of funds," and "final payment." There may be different types of Dallas Texas Contractor's Affidavit to Induce Lender to Release Funds — Final Payment, which include: 1. General Contractor's Affidavit: This type of affidavit is used by general contractors who oversee the entire construction project, managing subcontractors and suppliers. 2. Subcontractor's Affidavit: Subcontractors who have been hired by the general contractor can submit this affidavit to request the release of funds for their specific part of the project. 3. Material Supplier's Affidavit: Material suppliers who have provided necessary construction materials can submit this affidavit to ensure they receive the final payment for their supplies. 4. Trade-Specific Contractor's Affidavit: In cases where the construction project involves specialized contractors, such as electricians, plumbers, or HVAC technicians, they may need to submit a trade-specific affidavit to induce the lender to release funds. Each type of affidavit serves the purpose of assuring the lender that the contractor has fulfilled their obligations and is entitled to receive the final payment. It is essential for contractors to carefully complete and submit the relevant affidavit to ensure a smooth and timely release of funds.
Para su conveniencia, debajo del texto en español le brindamos la versión completa de este formulario en inglés. For your convenience, the complete English version of this form is attached below the Spanish version.
