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2016 Spring Home Improvement
LINCON DAILY
NEWS.comMay 2, 2016 Page 9
You can easily avoid any worries about this
situation and protect yourself from unpaid sub-
contractors
The law provides that you can require your contractor
to furnish you with a sworn statement known as a
“Contractor’s Affidavit.” A Contactors Affidavit is a
short document which lists the names and addresses of
all parties who supplied labor or materials on your job,
and the amounts due to each.
Once you have this information you should then
require a “waiver of lien” from your contractor and
each sub-contractor in exchange for making payment.
By signing a “waiver of lien” your contractor, sub-
contractor(s), and material suppliers acknowledge
under penalty of fraud that they have been paid—
either by you or your contractor.
Always require Contractor’s Affidavits and Lien
Waivers
Always require Contractor’s Affidavits and Lien
Waivers from all general contractors, and material
and labor providers who do work on your property.
You can usually obtain these waivers at no charge
from your contractor and or sub-contractor(s), as well
as your bank and your attorney. Most banks require
them before they will release loan proceeds to fund a
project, and virtually all commercial projects in which
we are involved require them.
If you have any questions we encourage you to contact
your attorney before beginning a project and get
the facts. Good advice when you begin your project
combined with a little paperwork as the job proceeds
can save a lot of grief after it is finished.
[Information provided by Contractors Ready Mix, Lincoln, Illinois]