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 Oregon Contractor's Affidavit to Induce Lender to Release Funds — Final Payment is a legal document that serves as a written affirmation from a contractor to a lender, stating that all payments and obligations related to a construction project have been fulfilled. This affidavit serves as a request for the lender to release the final payment to the contractor. Keywords: Oregon, contractor's affidavit, induce lender, release funds, final payment Different Types of Oregon Contractor's Affidavit to Induce Lender to Release Funds — Final Payment: 1. Oregon Commercial Contractor's Affidavit to Induce Lender to Release Funds — Final Payment: This affidavit is specifically designed for commercial contractors operating in the state of Oregon. It includes all relevant information pertaining to the commercial construction project, such as project details, contract terms, and payment information. 2. Oregon Residential Contractor's Affidavit to Induce Lender to Release Funds — Final Payment: This affidavit is tailored for residential contractors who have completed a construction or renovation project in Oregon. It outlines the necessary details related to the residential project, including payment terms, completion date, and any relevant contractual obligations. 3. Oregon Public Works Contractor's Affidavit to Induce Lender to Release Funds — Final Payment: This particular affidavit is intended for contractors involved in public works projects in Oregon. Public works projects often involve government entities or agencies, requiring specific documentation and procedures for the release of final payment from the lender. 4. Oregon Subcontractor's Affidavit to Induce Lender to Release Funds — Final Payment: This affidavit is used when a subcontractor is seeking payment from the lender directly. It ensures that the subcontractor has fulfilled all payment obligations and allows them to request the release of the final payment from the lender. All variations of the Oregon Contractor's Affidavit to Induce Lender to Release Funds — Final Payment are essential legal documents that help facilitate the payment process and ensure that all parties involved are compliant with the contractual agreements. Contractors must carefully fill out these affidavits and provide accurate and complete information to avoid any delays in receiving their final payment.
