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Content Overview

The Illinois Final Waiver of Lien form serves as a crucial document in the realm of construction and property transactions, ensuring that all parties involved have a clear understanding of their rights and obligations regarding payments for services rendered. This form is typically utilized by contractors, subcontractors, or suppliers who have provided labor or materials for a specific project. By signing this waiver, the undersigned relinquishes any claims to a lien against the property in question, thereby confirming that they have received payment for their work. The document outlines essential details, including the name of the contractor, the nature of the work performed, and the total contract amount, which encompasses any extras or change orders. It also requires a sworn affidavit from the contractor, affirming that all information provided is accurate and that no outstanding claims exist against the property. This dual-component structure not only protects the property owner from potential lien claims but also provides a layer of security for contractors by documenting their receipt of payment. In essence, the Illinois Final Waiver of Lien is a vital instrument that fosters transparency and trust within the construction industry.

Key takeaways

Understanding the Illinois Final Waiver of Lien form is essential for contractors and subcontractors involved in construction projects. Here are four key takeaways to keep in mind:

  • Purpose of the Waiver: This form serves to formally release any claims for payment against a property once a contractor or subcontractor has been paid. It ensures that the owner is protected from future lien claims related to the work performed.
  • Accurate Information is Crucial: When filling out the form, all details, including the name of the owner, the project description, and the payment amount, must be accurate. Any errors could lead to disputes or complications in the future.
  • Inclusion of Extras: The waiver includes a provision for "extras," which covers additional work or changes to the original contract. Be sure to specify any extras clearly to avoid misunderstandings later on.
  • Notarization Requirement: The form must be notarized to be legally binding. This step adds an extra layer of protection and ensures that all parties acknowledge the waiver's validity.

By keeping these points in mind, you can navigate the waiver process more effectively and protect your rights as a contractor or subcontractor in Illinois.

Guide to Writing Illinois Final Waiver Of Lien

Filling out the Illinois Final Waiver of Lien form is an important step in ensuring that all parties involved in a construction project are clear on payments and obligations. Once completed, this form will need to be signed and potentially notarized before submission. Here’s how to fill it out correctly.

  1. Obtain the form: Download or print the Illinois Final Waiver of Lien form from a reliable source.
  2. Fill in the date: Write the current date at the top of the form.
  3. Enter the company name: Fill in the name of the company that has provided labor or materials.
  4. Provide the address: Write the complete address of the company.
  5. Describe the work: Clearly state the type of work or materials provided in the designated space.
  6. Identify the premises: Write the full address of the property where the work was performed.
  7. State the owner's name: Fill in the name of the property owner.
  8. Enter the payment amount: Write the total amount received for the work done, including any extras.
  9. Sign and title: The authorized representative of the company must sign and print their title below the signature.
  10. Complete the contractor’s affidavit: In the second section, fill in the name and position of the contractor, along with the company name.
  11. Provide contract details: Indicate the total amount of the contract and the amount received prior to this payment.
  12. List all parties involved: Include the names and addresses of all parties who have furnished labor or materials, along with the amounts due or paid.
  13. Sign the affidavit: The contractor must sign the affidavit section.
  14. Notarization: Have the form notarized by a licensed notary public, who will complete the section at the bottom.

After completing these steps, double-check all information for accuracy. Once verified, the form can be submitted as required. Keep a copy for your records, as it serves as proof of the waiver and can be important for future reference.

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FINAL WAIVER OF LIEN

STATE OF ILLINOIS

} SS

Gty # _____________________

COUNTY OF _____________________________

Escrow # _____________________

TO WHOM IT MAY CONCERN:

WHEREAS the undersigned has been employed by ____________________________________________________________________

to furnish _____________________________________________________________________________________________________

for the premises known as ________________________________________________________________________________________

of which ___________________________________________________________________________________________ is the owner.

THE undersigned, for and in consideration of _________________________________________________________________

($__________________________) Dollars, and other good and valuable considerations, the receipt whereof is hereby acknowledged,

do(es) hereby waive and release any and all lien or claim of, or right to, lien, under the statutes of the State of Illinois, relating to mechanics’ liens, with respect to and on said above-described premises, and the improvements thereon, and on the material, fixtures, apparatus or machinery furnished, and on the moneys, funds or other considerations due or to become due from the owner, on account of all labor, services, material, fixtures, apparatus or machinery, heretofore furnished, or which may be furnished at any time hereafter, by the undersigned for the above-described premises, INCLUDING EXTRAS.*

DATE ____________________________ COMPANY NAME ________________________________________________________

ADDRESS ________________________________________________________________

SIGNATURE AND TITLE _______________________________________________________________

* EXTRAS INLCUDE BUT ARE NOT LIMITED TO CHANGE ORDERS, BOTH ORAL AND WRITTEN, TO THE CONTRACT.

-------------------------------------------------------------------------------------------------------------------------------------------------------------------

STATE OF ILLINOIS

} SS

CONTRACTOR’S AFFIDAVIT

COUNTY OF _____________________________

TO WHOM IT MAY CONCERN:

 

 

THE UNDERSIGNED, (NAME) ____________________________________________ BEING DULY SWORN, DEPOSES

AND SAYS THAT HE OR SHE IS (POSITION) __________________________________________________________________ OF

(COMPANY NAME) _______________________________________________________________________________ WHO IS THE

CONTRACTOR FURNISHING __________________________________________________________ WORK ON THE BUILDING

LOCATED AT ________________________________________________________________________________________________

OWNED BY __________________________________________________________________________________________________

That the total amount of the contract including extras* is $______________________________ on which he or she has received

payment of $ __________________________ prior to this payment. That all waivers are true, correct and genuine and delivered

unconditionally and that there is no claim either legal or equitable to defeat the validity of said waivers. That the following are the names and addresses of all parties who have furnished material or labor, or both, for said work and all parties having contracts or sub contracts for specific portions of said work or for material entering into the construction thereof and the amount due or to become due to each, and that the items mentioned include all labor and material required to complete said work according to plans and specifications:

NAMES AND ADDRESSES

WHAT FOR

CONTRACT PRICE INCLDG EXTRAS*

AMOUNT

PAID

THIS

PAYMENT

BALANCE

DUE

TOTAL LABOR AND MATERIAL INCLUDING EXTRAS* TO COMPLETE

That there are no other contacts for said work outstanding, and that there is nothing due or to become due to any person for material, labor or other work of any kind done or to be done upon or in connection with said work other than above stated.

DATE ___________________________ SIGNATURE _______________________________________________________

SUBSCRIBED AND SWORN TO BEFORE ME THIS _______________ DAY OF ___________________________,________,

*EXTRAS INCLUDE BUT ARE NOT LIMITED TO CHANGE

ORDERS, BOTH ORAL AND WRITTEN, TO THE CONTRACT.

________________________________________________

NOTARY PUBLIC

Copyright ©2005 Greater Illinois Title Company. All Rights Reserved. http://gitc.com/forms/

Compliments of Greater Illinois Title Company; for Internal and External Use.

Universal Doc Ref: GP_IEF0029-20050804-R1-0

Documents used along the form

The Illinois Final Waiver of Lien form is an important document in construction and contracting. It serves to release any claims for payment that a contractor or subcontractor may have against a property owner once they have received payment for their work. Alongside this form, there are several other documents that are commonly used in the construction industry to ensure clarity and protect the rights of all parties involved. Below is a list of these documents, each with a brief description.

  • Contractor’s Affidavit: This document is a sworn statement from the contractor affirming that they have received payment and that all waivers of lien are accurate. It also lists all parties involved in the project who have provided labor or materials, ensuring transparency about outstanding payments.
  • Notice of Intent to Lien: This is a formal notification sent to the property owner, informing them of the contractor's intent to file a lien if payment is not received. It serves as a warning and encourages prompt payment to avoid legal action.
  • Preliminary Notice: Often required by law, this document notifies property owners and general contractors that a subcontractor or supplier is involved in the project. It helps protect the rights of those who may not be directly contracted with the owner.
  • Rental Application Form: A smarttemplates.net can provide templates and resources to assist potential tenants in completing their rental applications accurately, ensuring that they present themselves effectively to landlords.
  • Change Order: This document outlines any modifications to the original contract, including changes in scope, pricing, or timelines. It must be agreed upon by all parties to ensure that everyone is on the same page regarding project adjustments.
  • Final Payment Application: This application is submitted by the contractor to request the final payment upon project completion. It details the work performed and confirms that all contractual obligations have been met.
  • Subcontractor Waiver of Lien: Similar to the Final Waiver of Lien, this document is used by subcontractors to waive their right to file a lien against the property once they have been paid. It protects the property owner from potential claims by subcontractors.
  • Certificate of Insurance: This document provides proof that the contractor has the necessary insurance coverage for the project. It protects both the contractor and the property owner from potential liabilities.
  • Release of Lien: This document is filed after payment has been made and serves to formally release any claims against the property. It is essential for clearing the title of the property and ensuring that no future claims can be made.

Using these documents together with the Illinois Final Waiver of Lien helps ensure that all parties involved in a construction project are protected and that there is a clear understanding of payment obligations. Proper documentation is key to avoiding disputes and ensuring a smooth project completion.