This Conditional Waiver and Release of Lien Upon Progress Payment form is for use by a lienor, in consideration of a certain sum of money to waive and release his or her lien and right to claim a lien for labor, services or materials furnished through a specific date to a customer on the job of an owner of property. This Conditional Waiver and Release of Lien Upon Progress Payment is conditioned upon the lienor receiving collected funds for the work described, and if such funds are not received within a certain number of days of the date of this waiver, this Conditional Waiver and Release of Lien is void.
A Nassau New York Conditional Waiver and Release of Lien Upon Progress Payment is a legal document used in the construction industry to acknowledge receipt of a progress payment and release any potential lien rights on a property. This document is typically used by contractors, subcontractors, or suppliers when they have been partially compensated for their work or materials supplied. The purpose of the Nassau New York Conditional Waiver and Release of Lien Upon Progress Payment is to protect the property owner and upper-tier contractors from any potential claims or liens that may arise from unpaid subcontractors or suppliers. By signing this document, the party receiving the progress payment agrees to waive their rights to file a lien against the property, but only to the extent of the payment received. There are different types of Nassau New York Conditional Waiver and Release of Lien Upon Progress Payment, depending on the specific circumstances and nature of the payment being made. These include: 1. Partial Conditional Waiver and Release of Lien Upon Progress Payment: Used when a partial payment is made, typically after completion of a specific phase or milestone in a construction project. This type of waiver and release only covers the amount of payment received, and does not release any rights for future or outstanding payments. 2. Final Conditional Waiver and Release of Lien Upon Progress Payment: Used when the final payment is made upon completion of the project or substantial completion as defined in the contract. This type of waiver and release covers the entire remaining contract amount and releases all lien rights. It is important to note that signing a Nassau New York Conditional Waiver and Release of Lien Upon Progress Payment should only be done when the payment has actually been received. If there are any concerns about non-payment or disputes regarding the completion of the work or supplied materials, seeking legal advice is recommended before signing such a document. In summary, a Nassau New York Conditional Waiver and Release of Lien Upon Progress Payment is a legal tool used in the construction industry to protect property owners and upper-tier contractors from potential liens or claims. Depending on the payment situation, either a Partial or Final Conditional Waiver and Release of Lien Upon Progress Payment can be used to protect the parties involved.A Nassau New York Conditional Waiver and Release of Lien Upon Progress Payment is a legal document used in the construction industry to acknowledge receipt of a progress payment and release any potential lien rights on a property. This document is typically used by contractors, subcontractors, or suppliers when they have been partially compensated for their work or materials supplied. The purpose of the Nassau New York Conditional Waiver and Release of Lien Upon Progress Payment is to protect the property owner and upper-tier contractors from any potential claims or liens that may arise from unpaid subcontractors or suppliers. By signing this document, the party receiving the progress payment agrees to waive their rights to file a lien against the property, but only to the extent of the payment received. There are different types of Nassau New York Conditional Waiver and Release of Lien Upon Progress Payment, depending on the specific circumstances and nature of the payment being made. These include: 1. Partial Conditional Waiver and Release of Lien Upon Progress Payment: Used when a partial payment is made, typically after completion of a specific phase or milestone in a construction project. This type of waiver and release only covers the amount of payment received, and does not release any rights for future or outstanding payments. 2. Final Conditional Waiver and Release of Lien Upon Progress Payment: Used when the final payment is made upon completion of the project or substantial completion as defined in the contract. This type of waiver and release covers the entire remaining contract amount and releases all lien rights. It is important to note that signing a Nassau New York Conditional Waiver and Release of Lien Upon Progress Payment should only be done when the payment has actually been received. If there are any concerns about non-payment or disputes regarding the completion of the work or supplied materials, seeking legal advice is recommended before signing such a document. In summary, a Nassau New York Conditional Waiver and Release of Lien Upon Progress Payment is a legal tool used in the construction industry to protect property owners and upper-tier contractors from potential liens or claims. Depending on the payment situation, either a Partial or Final Conditional Waiver and Release of Lien Upon Progress Payment can be used to protect the parties involved.
