Blank Illinois Sworn Statement Form

1. What is the purpose of the Illinois Sworn Statement form?

   The Illinois Sworn Statement form serves as a declaration by contractors and subcontractors regarding the work completed and payments due. It ensures transparency in financial transactions between contractors, subcontractors, and property owners. This form helps protect the interests of all parties by documenting who has been paid and what amounts are still outstanding.

2. Who needs to complete the Sworn Statement?

   The contractor and any subcontractors involved in the project must complete the Sworn Statement. Each party must list their respective contributions and the amounts owed for their work or materials. This ensures that everyone involved in the project is accounted for and that payments are made fairly.

3. When should the Sworn Statement be submitted?

   The Sworn Statement should be obtained by the property owner before making any payments to the contractor. It is advisable to submit this form before each payment to ensure that all parties are aware of the financial status of the project and to confirm that no liens are placed on the property.

4. What information is required on the form?

   The form requires detailed information, including:

   • The names and addresses of all contractors and subcontractors.
   • The type of work performed by each party.
   • The amounts due for materials and labor.
   • Any retention amounts and net amounts earned.
   • The total contract amount and any extras.

   Providing accurate information is crucial for the integrity of the document.

5. What happens if the Sworn Statement is not submitted?

   Failure to submit the Sworn Statement can lead to complications. The property owner may be at risk of making payments without knowing the full financial picture, which could result in disputes or even liens against the property. It is essential to obtain this document to safeguard against potential legal issues and ensure all parties are compensated appropriately.

Filling out the Illinois Sworn Statement form can be straightforward, but mistakes can happen. One common error is failing to provide complete information about the contractor or subcontractor. It’s essential to fill in all sections accurately, including names, addresses, and roles. Missing or incorrect details can delay payments and create confusion.

Another mistake is not including the correct contract information. The form requires specific details about the contract, such as the owner’s name and the type of work being done. Omitting this information can lead to complications when processing payments.

People often forget to calculate the amounts correctly. Each section requires precise figures for amounts due, amounts paid, and any retentions. Double-checking these numbers can help avoid discrepancies that could lead to payment issues.

Some individuals neglect to sign the form or forget to have it notarized. A signature is crucial for the document’s validity. Additionally, without a notary, the statement may not be accepted, causing unnecessary delays.

Another common oversight is not updating the form with the latest information. If there are changes to the contract or payment amounts, these should be reflected in the sworn statement. Failing to do so can result in incorrect payments or disputes.

Many people also overlook the requirement to provide Waivers of Lien. The form states that waivers must be furnished upon demand. Not having these ready can hold up payments and complicate the process.

Additionally, some individuals may misinterpret the retention percentage. It’s important to understand how much can be retained and ensure that this percentage is accurately reflected in the totals. Miscalculating retention can lead to financial issues later on.

Lastly, it’s vital to remember that the sworn statement should be obtained before each payment. Some may assume one statement is sufficient for multiple payments, but this is not the case. Each payment requires its own sworn statement to ensure compliance and clarity.

The Illinois Sworn Statement form is essential for contractors and subcontractors to provide transparency regarding payments and work completed. Alongside this form, several other documents are commonly used to ensure compliance and protect the interests of all parties involved. Below are four key forms that often accompany the Illinois Sworn Statement.

• Waiver of Lien: This document is used to confirm that a contractor or subcontractor has received payment for their work and materials. By signing this waiver, they relinquish their right to place a lien on the property for the amount paid, providing assurance to the owner that no future claims will arise for that payment.
• Contract Agreement: This is the foundational document that outlines the terms and conditions of the project between the owner and the contractor. It details the scope of work, payment terms, deadlines, and responsibilities of each party, serving as a reference throughout the project's duration.
• Change Order: When modifications to the original contract are necessary, a change order is used to document these changes. It outlines any adjustments in scope, cost, or timeline and must be agreed upon by both the owner and the contractor to ensure clarity and mutual understanding.
• Payment Application: This form is submitted by contractors to request payment for completed work. It details the work performed, the costs incurred, and the amount due. This application is critical for tracking financial progress and ensuring that payments align with project milestones.

Using these documents in conjunction with the Illinois Sworn Statement helps maintain clear communication and accountability among all parties involved in a construction project. Proper documentation not only protects the rights of contractors and subcontractors but also assures property owners that their investments are secure.

The Illinois Sworn Statement form shares similarities with several other documents commonly used in construction and contracting. Each of these documents serves to affirm the accuracy of information regarding payments and work performed. Below are four documents that are similar to the Illinois Sworn Statement:

• Mechanic's Lien Waiver: This document is used to confirm that a contractor or subcontractor has received payment for work completed. Like the Sworn Statement, it protects the owner from future claims by ensuring that all parties have been compensated.
• Certificate of Payment: This document certifies that a contractor has completed a specific portion of the work and is entitled to payment. Similar to the Sworn Statement, it details the amounts due and ensures transparency in the payment process.
• Affidavit of Payment: This affidavit is often submitted to confirm that all subcontractors and suppliers have been paid for their work. Much like the Sworn Statement, it provides assurance to the property owner regarding the financial obligations of the contractor.
• Change Order: A change order outlines modifications to the original contract, including adjustments to costs and timelines. It parallels the Sworn Statement by documenting changes and ensuring that all parties agree to the revised terms before proceeding with additional work.

When filling out the Illinois Sworn Statement form, it is essential to follow certain guidelines to ensure accuracy and compliance. Below is a list of things you should and shouldn't do:

• Do provide accurate and complete information about the contractor and subcontractor.
• Do clearly state the amounts due for labor and materials.
• Do ensure that the statement reflects the current status of the contract.
• Do sign the document in front of a notary public.
• Do obtain waivers of lien when requested.

• Don't leave any sections of the form blank; all fields must be filled out.
• Don't use vague language; be specific about the work completed.
• Don't forget to date the document and include the correct day and year.
• Don't submit the form without verifying all calculations for accuracy.
• Don't overlook the requirement to obtain this sworn statement before each payment.

Here are five common misconceptions about the Illinois Sworn Statement form:

• Misconception 1: The form is optional for contractors.

This is false. The Illinois Sworn Statement is required for contractors and subcontractors to ensure that all parties involved in a project are compensated fairly. It protects the owner from potential liens by confirming payments made.

• Misconception 2: Only the contractor needs to sign the form.

In reality, both the contractor and subcontractors must provide their information and signatures. This ensures transparency regarding who has been paid and who is still owed money.

• Misconception 3: The form only needs to be submitted once.

This is incorrect. The sworn statement must be submitted before each payment to the contractor. This practice helps maintain accurate records throughout the project.

• Misconception 4: The sworn statement guarantees payment.

While the form outlines amounts due, it does not guarantee payment. It is a declaration of amounts owed and serves as a protective measure for all parties involved.

• Misconception 5: The owner can skip obtaining the sworn statement if they trust the contractor.

This is not advisable. Even with trust, obtaining the sworn statement is crucial. It protects the owner from potential claims and ensures all financial obligations are documented.

Here are some key takeaways about filling out and using the Illinois Sworn Statement form:

• The form is used to provide a sworn statement from contractors and subcontractors to the owner and Greater Illinois Title Company.
• It must be completed accurately, detailing all persons contracted for labor or materials related to the project.
• Each contractor or subcontractor's name, address, and the amount due for their work must be included.
• The total amount of the original contract and any extras must be clearly stated.
• Retention amounts, or percentages withheld, should be calculated and noted.
• It is important to ensure that the total amount requested does not exceed the agreed percentage of work completed.
• The statement must be signed by the affiant and notarized to be valid.
• Waivers of Lien for all materials should be provided when requested by the owner.
• The owner should obtain this sworn statement before making any payments to ensure all parties are accounted for.