Virginia Owner's and Contractor Affidavit of Completion and Payment to Subcontractors

• Category: Construction - Contractors - Affidavits
• State: Multi-State
• Control #: US-00585
• Format: Word; Rich Text

Description

This form should be completed and signed by the owner and contractor, where applicable, to attest that there are no outstanding invoices on the completed project, and that all liens have been dismissed or any future lien rights are otherwise waived. The affidavit further requests that the insurer issue a policy based on these affirmations. The Virginia Owner's and Contractor Affidavit of Completion and Payment to Subcontractors is a legal document that serves as proof of the completion of a construction project and the payment made to subcontractors involved in the project. This affidavit is commonly required in construction projects in the state of Virginia to protect the rights of both the owner and the subcontractors. The affidavit includes detailed information about the construction project, such as the project name, address, and contract details. It outlines the work that has been completed as well as the payment made to subcontractors for their services. This document is submitted by the contractor to the owner as evidence that all subcontractors have been paid in compliance with the terms of the contract. There are different types of Virginia Owner's and Contractor Affidavit of Completion and Payment to Subcontractors, depending on the specific requirements of the project. Some commonly used variations include: 1. Final Affidavit of Completion and Payment to Subcontractors: This type of affidavit is used when the construction project is fully completed, and all subcontractors have received their final payments. It signifies that the project is finished and ready for the owner's acceptance. 2. Partial Affidavit of Completion and Payment to Subcontractors: This affidavit is used when the project is not yet fully completed, but certain stages or portions have been finished, and the subcontractors involved in those phases have been duly compensated. It allows for partial payments to subcontractors while the project is still ongoing. 3. Affidavit of Completion and Payment to Subcontractors with Retain age: In some cases, the owner may retain a portion of the contract amount as retain age until the project is fully completed or any outstanding issues are resolved. This type of affidavit acknowledges the partial payment made to subcontractors while highlighting to retain age amount that is still being held. It is important for contractors and owners to understand and complete the Virginia Owner's and Contractor Affidavit of Completion and Payment to Subcontractors accurately and in compliance with all legal requirements. Failure to do so may lead to disputes, legal complications, or delays in payment to subcontractors.

The Virginia Owner's and Contractor Affidavit of Completion and Payment to Subcontractors is a legal document that serves as proof of the completion of a construction project and the payment made to subcontractors involved in the project. This affidavit is commonly required in construction projects in the state of Virginia to protect the rights of both the owner and the subcontractors. The affidavit includes detailed information about the construction project, such as the project name, address, and contract details. It outlines the work that has been completed as well as the payment made to subcontractors for their services. This document is submitted by the contractor to the owner as evidence that all subcontractors have been paid in compliance with the terms of the contract. There are different types of Virginia Owner's and Contractor Affidavit of Completion and Payment to Subcontractors, depending on the specific requirements of the project. Some commonly used variations include: 1. Final Affidavit of Completion and Payment to Subcontractors: This type of affidavit is used when the construction project is fully completed, and all subcontractors have received their final payments. It signifies that the project is finished and ready for the owner's acceptance. 2. Partial Affidavit of Completion and Payment to Subcontractors: This affidavit is used when the project is not yet fully completed, but certain stages or portions have been finished, and the subcontractors involved in those phases have been duly compensated. It allows for partial payments to subcontractors while the project is still ongoing. 3. Affidavit of Completion and Payment to Subcontractors with Retain age: In some cases, the owner may retain a portion of the contract amount as retain age until the project is fully completed or any outstanding issues are resolved. This type of affidavit acknowledges the partial payment made to subcontractors while highlighting to retain age amount that is still being held. It is important for contractors and owners to understand and complete the Virginia Owner's and Contractor Affidavit of Completion and Payment to Subcontractors accurately and in compliance with all legal requirements. Failure to do so may lead to disputes, legal complications, or delays in payment to subcontractors.