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.
Miami-Dade Florida Contractor's Affidavit to Induce Lender to Release Funds — Final Payment is a legal document used in the construction industry to request the release of funds from a lender at the completion of a project. This affidavit serves as proof that the general contractor has fulfilled all contractual obligations and discharges any liens or claims against the property. Keywords: Miami-Dade Florida, contractor's affidavit, induce lender, release funds, final payment, construction industry, legal document, proof, contractual obligations, liens, claims, property. Types of Miami-Dade Florida Contractor's Affidavit to Induce Lender to Release Funds — Final Payment: 1. Standard Final Payment Affidavit: This is the most common type of affidavit used by contractors in Miami-Dade County, Florida. It includes all necessary information and declarations required to initiate the release of final payment. 2. Final Payment Affidavit with Liens Waiver: Sometimes, contractors may choose to include a liens' waiver clause in the affidavit. This additional section ensures that all subcontractors and suppliers involved in the project have released their rights to file liens against the property. 3. Conditional Release of Final Payment Affidavit: In cases where there are certain conditions or outstanding items that need to be resolved before the final payment is made, this type of affidavit is used. It states the terms under which the final payment will be released, such as completion of punch-list items or resolution of any open issues. 4. Contractor's Affidavit of Final Payment under Bond: If a construction project is bonded, this affidavit is required to release the final payment. It requires the contractor to certify that all work has been completed as per the bond agreement, and any necessary releases have been obtained. 5. Contractor's Final Payment Affidavit with Notice of Non-Payment: In situations where the contractor has not received full payment from the owner or lender, this affidavit includes a notice of non-payment. It serves as a formal document to inform the lender about the pending payment issue and sets the stage for resolution. By utilizing these different types of affidavits based on specific circumstances, contractors in Miami-Dade County, Florida, can ensure a smooth process of fund release and maintain a strong contractual relationship with lenders and property owners.Miami-Dade Florida Contractor's Affidavit to Induce Lender to Release Funds — Final Payment is a legal document used in the construction industry to request the release of funds from a lender at the completion of a project. This affidavit serves as proof that the general contractor has fulfilled all contractual obligations and discharges any liens or claims against the property. Keywords: Miami-Dade Florida, contractor's affidavit, induce lender, release funds, final payment, construction industry, legal document, proof, contractual obligations, liens, claims, property. Types of Miami-Dade Florida Contractor's Affidavit to Induce Lender to Release Funds — Final Payment: 1. Standard Final Payment Affidavit: This is the most common type of affidavit used by contractors in Miami-Dade County, Florida. It includes all necessary information and declarations required to initiate the release of final payment. 2. Final Payment Affidavit with Liens Waiver: Sometimes, contractors may choose to include a liens' waiver clause in the affidavit. This additional section ensures that all subcontractors and suppliers involved in the project have released their rights to file liens against the property. 3. Conditional Release of Final Payment Affidavit: In cases where there are certain conditions or outstanding items that need to be resolved before the final payment is made, this type of affidavit is used. It states the terms under which the final payment will be released, such as completion of punch-list items or resolution of any open issues. 4. Contractor's Affidavit of Final Payment under Bond: If a construction project is bonded, this affidavit is required to release the final payment. It requires the contractor to certify that all work has been completed as per the bond agreement, and any necessary releases have been obtained. 5. Contractor's Final Payment Affidavit with Notice of Non-Payment: In situations where the contractor has not received full payment from the owner or lender, this affidavit includes a notice of non-payment. It serves as a formal document to inform the lender about the pending payment issue and sets the stage for resolution. By utilizing these different types of affidavits based on specific circumstances, contractors in Miami-Dade County, Florida, can ensure a smooth process of fund release and maintain a strong contractual relationship with lenders and property owners.
