Get Illinois Sworn Statement Form

The Illinois Sworn Statement form serves as a vital document in construction and contracting, ensuring transparency between contractors, subcontractors, and property owners. This form outlines the work completed, payments made, and amounts due, providing a comprehensive overview of financial obligations related to a construction project. To ensure compliance and protect all parties involved, it's essential to fill out this form accurately before any payments are made.

Ready to get started? Click the button below to fill out the Illinois Sworn Statement form!

Modify Form

The Illinois Sworn Statement form serves as a critical document in the construction industry, particularly for contractors and subcontractors. This form is designed to provide transparency regarding the financial obligations related to a construction project. It requires the affiant, typically the contractor or a representative, to confirm their role and the details of the contract with the property owner. Essential information includes the names and addresses of all subcontractors involved, the type of work performed, and the amounts due for labor and materials. The form also outlines the total amount of the original contract, work completed to date, and any additional costs that may have arisen. Importantly, it specifies retention amounts and ensures that the total payments do not exceed a predetermined percentage of the work completed. To protect all parties involved, the contractor agrees to furnish Waivers of Lien upon request, reinforcing the commitment to settle debts related to the project. This sworn statement must be obtained by the owner before each payment, ensuring that all financial transactions are documented and verified.

Document Breakdown

Fact Name	Description
Purpose	The Illinois Sworn Statement form is used to verify the payment status of contractors and subcontractors on a construction project.
Governing Law	This form is governed by the Illinois Mechanics Lien Act, 770 ILCS 60.
Affiant Requirement	The person signing the form must be duly sworn in and provide their position within the contracting entity.
Payment Verification	The form requires detailed information about amounts due for labor and materials, ensuring transparency in payments.
Waivers of Lien	Contractors must agree to provide Waivers of Lien upon request, protecting the owner from potential claims.
Notarization	The form must be notarized to be valid, which adds an extra layer of authenticity to the statement.
Owner's Responsibility	It is the owner's responsibility to obtain this sworn statement before making any payments to contractors or subcontractors.

Common PDF Forms

Workers Comp Illinois - The employer should ensure all sections of the form are completed accurately.

When considering the implications of a Texas Durable Power of Attorney form, it is essential to understand its significance in ensuring that someone you trust can manage your affairs if you become unable to do so. This legal document is vital for safeguarding your financial future, and for more information and resources regarding its creation, you can visit TopTemplates.info.

Il-1040 Form 2023 - Penalties can apply for failure to provide required information.

Real Estate Sales Contract - Each party’s obligation for correct and timely notification regarding progress and changes is mandated in the contract.

Misconceptions

Understanding the Illinois Sworn Statement form is essential for contractors, subcontractors, and owners involved in construction projects. However, several misconceptions often arise regarding this document. Below are ten common misconceptions, along with clarifications for each.

It is only necessary for large projects. Many believe that the Sworn Statement is required only for significant construction endeavors. In reality, it is advisable for projects of all sizes to ensure transparency and proper documentation.
Only contractors need to complete the form. While contractors are primarily responsible for the form, subcontractors and suppliers also play a crucial role. Their information must be included to provide a complete financial picture.
The form guarantees payment. Completing the Sworn Statement does not guarantee payment. It serves as a declaration of amounts due but does not replace contractual agreements regarding payment terms.
It is a one-time requirement. Some individuals think that the Sworn Statement is only needed once. However, it should be submitted before each payment to maintain accurate records and ensure compliance.
It can be completed without accurate financial records. This form requires detailed financial information. Inaccurate or incomplete records can lead to disputes and delays in payment.
It is the owner's responsibility to fill out the form. While owners may be involved, it is typically the contractor's responsibility to prepare and submit the Sworn Statement, ensuring all necessary details are included.
Notarization is optional. Many assume that notarization is not necessary. In fact, the Sworn Statement must be notarized to be valid, providing an added layer of authenticity.
It only covers labor costs. The Sworn Statement encompasses both labor and materials. It is essential to account for all costs associated with the project to avoid misunderstandings.
Once submitted, it cannot be amended. Individuals often think that the Sworn Statement is final once submitted. However, if errors are found, amendments can be made, but they must be properly documented.
It is not necessary if a contract exists. Some believe that having a contract eliminates the need for a Sworn Statement. However, the form serves as an additional safeguard for all parties involved, ensuring clarity and accountability.

By addressing these misconceptions, all parties can better navigate the complexities of the Illinois Sworn Statement form and foster a more transparent construction process.

Example - Illinois Sworn Statement Form

GREATER ILLINOIS TITLE COMPANY

SWORN STATEMENT OF CONTRACTOR AND SUBCONTRACTOR

TO OWNER AND TO GREATER ILLINOIS TITLE COMPANY

STATE OF ILLINOIS	} ss.
COUNTY OF _________________________

Page___________ of ___________ Pages

The affiant, _____________________________________________________________________________ being first duly sworn, on oath deposes

and says that he is _______________________________________________________________________________________________________

of _________________________________________________________________________________________________that ___________ has

contract with __________________________________________________________________________________ , owner ______________ for

______________________________________________________________________________________________________________________

on the following described premises in said County, to wit:________________________________________________________________________

That, for the purposes of said contract, the following persons have been contracted with, and have furnished, or are furnishing and preparing materials for, and have done or are doing labor on said improvement. That there is due and to become due them, respectively, the amounts set opposite their names for materials or labor as stated. That this statement is a full, true and complete statement of all such persons, the amounts paid

and the amounts due or to become due to each.
	1	2	3	4	5	6	7
			Amount of	Retention	Net of Previous	Net Amount	Balance To
	Name and Address	Kind of Work					Become Due
			Contract	(inc. Current)	Payments	This Payment
							(Inc. Retentions)

TOTAL
AMOUNT OF ORIGINAL CONTRACT	$ ___________________ WORK COMPLETED TO DATE		$ ___________________
EXTRAS TO CONTRACT	$ ___________________	LESS ____________% RETAINED	$ ___________________
		NET AMOUNT EARNED	$ ___________________
TOTAL CONTRACT AND EXTRAS	$ ___________________

		NET PREVIOUSLY PAID	$ ___________________
CREDITS TO CONTRACT	$ ___________________
		NET AMOUNT OF THIS PAYMENT	$ ___________________
ADJUSTED TOTAL CONTRACT	$ ___________________
		BALANCE TO BECOME DUE (Inc. Retention) $ ___________________

It is understood that the total amount paid to date plus the amount requested in this application shall not exceed _______% of the cost of work

completed to date.

I agree to furnish Waivers of Lien for all materials under my contract when demanded.

SIGNED ______________________________________________ POSITION _____________________________________________________

Subscribed and sworn to before me this __________________________ day of ______________________ , ____________

SEAL:

_____________________________________________________________

Notary Public

The above sworn statement should be obtained by the owner before each and every payment.

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

Universal Doc Ref: GP_IEF0027-20050804-R1-0

Dos and Don'ts

When filling out the Illinois Sworn Statement form, there are certain best practices to keep in mind. Here’s a helpful list of things you should and shouldn’t do:

Do read the entire form carefully before starting.
Don’t leave any sections blank; fill in all required information.
Do double-check the names and addresses of all contractors and subcontractors.
Don’t use abbreviations or shorthand; clarity is key.
Do ensure the amounts listed are accurate and reflect the current status of payments.
Don’t forget to sign and date the form; an unsigned form is not valid.
Do provide a detailed description of the work being performed.
Don’t submit the form without a notary’s signature if required.
Do keep a copy of the completed form for your records.
Don’t rush through the process; take your time to ensure everything is correct.

By following these guidelines, you can help ensure that your Illinois Sworn Statement form is completed accurately and effectively. This will not only streamline the process but also protect your interests and those of all parties involved.

Illinois Sworn Statement: Usage Instruction

Completing the Illinois Sworn Statement form is essential for ensuring that all parties involved in a construction project are properly informed about payments and obligations. Follow the steps below carefully to fill out the form accurately.

Begin by entering the County where the work is being performed in the designated space.
On the line for the affiant, write the name of the individual who is completing the form.
In the next section, provide the title or position of the affiant within the company.
Fill in the name of the contractor or company that has the contract with the property owner.
Next, write the name of the owner of the property where the work is being done.
Describe the work being performed under the contract, including any specifics that clarify the nature of the project.
In the section for persons contracted, list the names and addresses of all contractors and subcontractors involved in the project.
For each contractor or subcontractor, provide the kind of work they are doing, along with the amounts due for their services.
Complete the financial sections by filling out the following fields:
- Total Amount of Original Contract
- Work Completed to Date
- Extras to Contract
- Less Retained Amount
- Net Amount Earned
- Total Contract and Extras
- Net Previously Paid
- Credits to Contract
- Net Amount of This Payment
- Adjusted Total Contract
- Balance to Become Due
Sign the document where indicated, and include the date of signing.
Finally, have the form notarized by a licensed notary public, who will sign and affix their seal.

After completing the form, ensure that all information is accurate and clear. This document should be submitted to the owner before any payments are made to confirm that all parties are aware of the financial obligations involved in the project.