Chicago Limited Liability Company

• Category: Illinois Liens - Construction - Mechanics
• State: Illinois
• City: Chicago
• Control #: IL-01A-09
• Format: Word; Rich Text

Description

Pursuant to t770 ILCS 60/5, this form is for a corporate or LLC contractor to give an owner notice of all parties who are to furnish labor or materials and the amounts due. Merchants and dealers in materials are not required to give this statement. The Chicago Illinois Contractor's Verified Statement of Labor and Materials and amount due is a legal document used in the construction industry to establish and protect the rights of contractors, sub-contractors, and material suppliers in regard to payment for labor and materials provided to a project. This statement is specific to corporations or limited liability companies (LCS) operating in Chicago, Illinois. It serves as a prerequisite to filing a mechanic's lien, which is a legal claim against a property that ensures payment for work performed or materials supplied. The Verified Statement requires detailed information about the project, including the name and address of the property owner, the property's legal description, and the contractor or sub-contractor's contact information. It must also provide a comprehensive breakdown of the labor, materials, and services provided, with corresponding amounts and dates. The amount due specified in the statement is the sum owed for the completed work or materials supplied, and it is crucial for accurately calculating the potential lien claim. The statement may also include any additional fees or charges related to the project. It is important to note that there may be different types of Verified Statements depending on the nature and scope of the project. These may include statements for both general contractors and sub-contractors, as well as variations for specialized trades or services provided. The Verified Statement serves as a formal declaration, signed and sworn to by the contracting party, certifying the accuracy and truthfulness of the information provided. It is typically filed with the county recorder's office or other appropriate authority within a specified timeframe, as required by state law. By completing and filing this document, contractors, sub-contractors, and material suppliers establish their legal rights to seek payment through a mechanic's lien if they are not paid in full for their labor and materials. Mechanic's liens provide a powerful legal tool for enforcing payment and securing a claim against the property in question. In summary, the Chicago Illinois Contractor's Verified Statement of Labor and Materials and amount due — Mechanic Lien— - Corporation or LLC is a vital document for contractors, sub-contractors, and material suppliers in the construction industry. It ensures that they have a legally recognized claim to pursue payment for their labor and materials through the mechanism of a mechanic's lien.

The Chicago Illinois Contractor's Verified Statement of Labor and Materials and amount due is a legal document used in the construction industry to establish and protect the rights of contractors, sub-contractors, and material suppliers in regard to payment for labor and materials provided to a project. This statement is specific to corporations or limited liability companies (LCS) operating in Chicago, Illinois. It serves as a prerequisite to filing a mechanic's lien, which is a legal claim against a property that ensures payment for work performed or materials supplied. The Verified Statement requires detailed information about the project, including the name and address of the property owner, the property's legal description, and the contractor or sub-contractor's contact information. It must also provide a comprehensive breakdown of the labor, materials, and services provided, with corresponding amounts and dates. The amount due specified in the statement is the sum owed for the completed work or materials supplied, and it is crucial for accurately calculating the potential lien claim. The statement may also include any additional fees or charges related to the project. It is important to note that there may be different types of Verified Statements depending on the nature and scope of the project. These may include statements for both general contractors and sub-contractors, as well as variations for specialized trades or services provided. The Verified Statement serves as a formal declaration, signed and sworn to by the contracting party, certifying the accuracy and truthfulness of the information provided. It is typically filed with the county recorder's office or other appropriate authority within a specified timeframe, as required by state law. By completing and filing this document, contractors, sub-contractors, and material suppliers establish their legal rights to seek payment through a mechanic's lien if they are not paid in full for their labor and materials. Mechanic's liens provide a powerful legal tool for enforcing payment and securing a claim against the property in question. In summary, the Chicago Illinois Contractor's Verified Statement of Labor and Materials and amount due — Mechanic Lien— - Corporation or LLC is a vital document for contractors, sub-contractors, and material suppliers in the construction industry. It ensures that they have a legally recognized claim to pursue payment for their labor and materials through the mechanism of a mechanic's lien.

Law summary