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CONTRACTOR SWORN STATEMENT STATE OF STATE COUNTY OF COUNTY, SS:))) Name of affine, of address, in the City/Town of, State of, on this day of, as affine, being sworn, deposes and says that he is the

How to fill out contractor sworn statement

How to fill out a contractor sworn statement:

1. Start by gathering all the necessary information: Before filling out the sworn statement, make sure you have all the required details at hand. This may include the project name, address, your contact information, the client's information, and any subcontractor details.
2. Introduce yourself and provide project details: Begin the sworn statement by stating your full name, the company you represent, and your role in the project. Then, provide specific details about the project, such as its location and a brief description.
3. Disclose financial information: The next step is to provide a breakdown of the project's financial aspects. This includes the total contract amount, any change orders, progress payments, and retainage. Be sure to itemize all the relevant information accurately.
4. List subcontractors and their payment statuses: If you hired any subcontractors for the project, you should list their names and contact information in the sworn statement. Additionally, specify the amount due to each subcontractor, the amount already paid, and the outstanding balance.
5. Declare the accuracy and truthfulness of the statement: At the bottom section of the sworn statement, add a declaration stating that the information provided is accurate and complete to the best of your knowledge. You may need to sign and date this statement, acknowledging that you understand the legal implications of providing false information.

Who needs a contractor sworn statement?

1. Contractors: Contractors are typically required to fill out a sworn statement when working on construction projects. This allows the project owner or general contractor to have visibility into the subcontractors involved and their payment statuses.
2. Project owners: Project owners often request a contractor sworn statement to ensure that all subcontractors and suppliers are being paid and to prevent potential liens on the property. By reviewing these statements, they can assess the financial health of the project and verify that all parties are being compensated fairly.
3. General contractors: General contractors may also request sworn statements from subcontractors as part of their due diligence and risk management practices. This helps them monitor the financial health of the project and mitigate any potential legal issues that may arise.

In summary, filling out a contractor sworn statement involves providing detailed project information, disclosing financial aspects, and listing subcontractors and their payment statuses. Contractors, project owners, and general contractors all have a vested interest in obtaining and reviewing these sworn statements to ensure transparency and prevent any potential complications in the construction process.

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What is contractor sworn statement?

Contractor sworn statement is a legal document signed by a contractor that attests to the accuracy of information related to a construction project, such as payment details and work performed.

Who is required to file contractor sworn statement?

Contractors and subcontractors working on a construction project are usually required to file a contractor sworn statement.

How to fill out contractor sworn statement?

Contractors must provide accurate and detailed information about the work performed, payment received, and any potential disputes on the contractor sworn statement form.

What is the purpose of contractor sworn statement?

The purpose of a contractor sworn statement is to provide transparency in the payment process, protect the rights of subcontractors, and prevent payment disputes.

What information must be reported on contractor sworn statement?

Information such as the amount of work completed, payment received, and any potential payment disputes must be reported on a contractor sworn statement.