Document background
The Contractor's Final Payment Affidavit And Release Of Lien is a critical document in the Nigerian construction industry that serves as the final step in completing a construction project's payment process. This document is typically required before the release of final payment or shortly after its receipt, depending on whether the release is conditional or unconditional. It provides legal protection for property owners by ensuring that contractors formally acknowledge full payment and release any rights to file liens against the property. The document must comply with Nigerian federal and state legislation, including the Evidence Act 2011 and Contract Law Act, and requires proper notarization. It's particularly important in larger construction projects where multiple contractors and subcontractors are involved, as it helps prevent future claims and establishes clear documentation of project completion and payment satisfaction.
