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SubContractor Agreement construction Form: What You Should Know

Total Fees and Total Project cost(s) shall be made, after a completed construction is completed, by the subcontractor to either the owner, the Contractor or the Subcontractor Subcontractors shall provide monthly completed lien waivers, in the form of an affidavit, to any Owner/Conductor/Superintendent of Buildings/Landlord, upon the owner receiving an unsolicited bid for the construction project to be conducted on an unleashed lot or buildings located on the same lot or buildings. If the Owner or Conductor receives a valid unsolicited bid for the entire construction project to be conducted on an unleashed lot or buildings, Subcontractor shall provide the Owner, Conductor, Superintendent, or other contractor who submits a valid bid, one lien waiver form per month in accordance with the time periods described above. A lien waiver is a sworn, written affidavit, signed by the subcontractor (or subcontractor's representative), that is filed with the Board detailing: (a) the terms and conditions of the job; (b) the amount of each subcontractor fee and subcontractor's percentage of Total Fees and Total Project cost; and (c) that at the completion of the construction project the subcontractor has received and accepted payment of Fees and Total Project cost. No fee will be collected until the lien form and the full fee balance has been received by the Board. No lien waiver from the subcontractor may be submitted more than 5 days after the subcontractor's receipt of unsolicited bids if the subcontractor has not been notified by the owner or operator of any change in the value of the subcontractor's lien in response to bids offered by the Contractor and Owner. When submitting a lien waiver, if the subcontractor is required to be on a project and was not the subcontractor or has already withdrawn from the project, the subcontractor is responsible for providing such person with the form, information, notice and affidavit in the next business day if possible. There may be circumstances in which the subcontractor may need additional time to review, submit, sign the form. Subcontractor's percentage of Total Fees and Total Project cost(s) shall be determined upon the completion of the project using the percentages listed for the construction project and is to be determined in accordance with the subcontractor's final fee determination by the building owner or a construction subcontractor, where possible.

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