Sec. 4. (a) Within ten (10) days of receipt of any payment by the state or the escrow agent, the contractor or escrow agent shall pay each subcontractor and each supplier the appropriate share of the payment the contractor received based upon the service performed by the subcontractor or the materials received from the supplier.

     (b) The contractor shall furnish to the division a sworn statement or certification at the time of payment to it that all subcontractors and suppliers have received their share of the previous payment to the contractor.

Terms Used In Indiana Code 4-13.6-7-4

  • Affidavit: A written statement of facts confirmed by the oath of the party making it, before a notary or officer having authority to administer oaths.
  • Contract: A legal written agreement that becomes binding when signed.
  • Escrow: Money given to a third party to be held for payment until certain conditions are met.
     (c) If a contractor makes an incorrect certification, the department may do any of the following:

(1) Consider the incorrect certification a breach of contract and do any of the following:

(A) Cancel the contract.

(B) Collect from the contractor all funds paid to the contractor under the contract.

(C) Exercise all of the state’s rights set out in the contract.

(2) Pursue remedies against the contractor for falsifying an affidavit.

(3) Revoke the contractor’s qualification under IC 4-13.6-4-13(b).

(4) Use the incorrect certification as a basis for finding the contractor not responsible when awarding other contracts.

As added by P.L.24-1985, SEC.7. Amended by P.L.5-1993, SEC.12.

  Previous section
Next section  
 Chapter 7 Contents