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LawyerDavid, Attorney
Category: Business Law
Satisfied Customers: 322
Experience:  Highly experienced attorney in all aspects of Business Law
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I am preparing a sworn statement for residential new

Customer Question

I am preparing a sworn statement for residential new construction and am curious if I am able to mark up materials purchased. Obviously I submit this sworn statement at each draw request with necessary waivers. However for example if my lumber bill for the project is $34,000 and I pay $34,000 to the lumber supplier and bill the homeowner 36,000 on the sworn statement thus profiting 2,000 from my trade discount can I display this as Lumber $36,000 instead of the $34,000 I paid to the supplier thus profiting 2,000. Or would this have to be displayed separately as my profit?
Submitted: 3 months ago.
Category: Business Law
Expert:  LawyerDavid replied 3 months ago.

Hello: my name is ***** ***** I will assist you. The answer to your question is it depends on what your contract states for the project. However, I would not accept a sworn statement from you that materials cost a certain amount when they really cost less, unless the contract you entered allows you to include overhead and profit onto the cost of the materials purchased. Thanks, David