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.
The Syracuse New York Conditional Waiver and Release of Lien Upon Progress Payment is a legal document commonly used in the construction industry. It allows subcontractors, suppliers, or any party involved in a construction project to release their right to file a lien against a property upon receiving a progress payment. This waiver ensures that the party who is making the payment is protected from potential future claims or liens resulting from the work performed or materials supplied. It serves as a reassurance to property owners and general contractors that they will not face any legal actions related to liens on the property in the future. There are different types of Syracuse New York Conditional Waiver and Release of Lien Upon Progress Payment, and they vary depending on the specific conditions stated in the agreement. Some common types include: 1. Conditional Waiver and Release upon Progress Payment: This type of waiver is used when the party involved receives a partial payment for the work or materials provided. It protects the paying party from potential liens for the amount paid, but not for any outstanding balances. 2. Unconditional Waiver and Release upon Progress Payment: In this type of waiver, the party receiving the progress payment fully releases all rights to file a lien against the property. It applies to the payment received and any outstanding balance. 3. Final Conditional Waiver and Release: This waiver is used when the final payment for a project is made. It ensures that the party receiving the payment releases all rights to file a lien against the property, covering the entire project cost. 4. Final Unconditional Waiver and Release: Similar to the previous type, this waiver releases all rights to file a lien upon receiving the final payment. It applies to the final project cost, including any outstanding amounts. It is crucial for parties involved in construction projects to carefully review and understand the specific terms and conditions stated in the Syracuse New York Conditional Waiver and Release of Lien Upon Progress Payment. Consulting with legal professionals is recommended to ensure compliance and protection for all parties.The Syracuse New York Conditional Waiver and Release of Lien Upon Progress Payment is a legal document commonly used in the construction industry. It allows subcontractors, suppliers, or any party involved in a construction project to release their right to file a lien against a property upon receiving a progress payment. This waiver ensures that the party who is making the payment is protected from potential future claims or liens resulting from the work performed or materials supplied. It serves as a reassurance to property owners and general contractors that they will not face any legal actions related to liens on the property in the future. There are different types of Syracuse New York Conditional Waiver and Release of Lien Upon Progress Payment, and they vary depending on the specific conditions stated in the agreement. Some common types include: 1. Conditional Waiver and Release upon Progress Payment: This type of waiver is used when the party involved receives a partial payment for the work or materials provided. It protects the paying party from potential liens for the amount paid, but not for any outstanding balances. 2. Unconditional Waiver and Release upon Progress Payment: In this type of waiver, the party receiving the progress payment fully releases all rights to file a lien against the property. It applies to the payment received and any outstanding balance. 3. Final Conditional Waiver and Release: This waiver is used when the final payment for a project is made. It ensures that the party receiving the payment releases all rights to file a lien against the property, covering the entire project cost. 4. Final Unconditional Waiver and Release: Similar to the previous type, this waiver releases all rights to file a lien upon receiving the final payment. It applies to the final project cost, including any outstanding amounts. It is crucial for parties involved in construction projects to carefully review and understand the specific terms and conditions stated in the Syracuse New York Conditional Waiver and Release of Lien Upon Progress Payment. Consulting with legal professionals is recommended to ensure compliance and protection for all parties.
