This Conditional Waiver and Release of Claim of Lien Upon Progress Payment is for use by a lienor in consideration of a 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 certain 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 in for the described work, and if these funds are not received within a specific number of days of the date of this waiver, this Conditional Waiver and Release of Lien is void.
The Bend Oregon Conditional Waiver and Release of Claim of Lien Upon Progress Payment is a legal document used in the construction industry to release a claim of lien on a property in exchange for receiving a progress payment. This waiver and release form is crucial for contractors, subcontractors, and suppliers to ensure they receive timely payments for the work they have completed. It offers protection to property owners and construction lenders by ensuring that the lien rights are waived upon receiving payment. There are different types of Bend Oregon Conditional Waiver and Release of Claim of Lien Upon Progress Payment, which include: 1. Conditional Waiver and Release Upon Progress Payment: This type of waiver and release is used when the claimant agrees to release their lien rights upon receiving a progress payment, provided that the payment is not dishonored or reversed. 2. Unconditional Waiver and Release Upon Progress Payment: This waiver and release type is used when the claimant receives a progress payment and agrees to fully release their lien rights without any conditions or reservations. 3. Conditional Waiver and Release Upon Final Payment: This waiver and release is used when the claimant agrees to release their lien rights upon receiving the final payment for the completed project, subject to the payment being valid. 4. Unconditional Waiver and Release Upon Final Payment: This type of waiver and release is used when the claimant receives the final payment for the project and agrees to waive all lien rights without any conditions or reservations. When using any of these waivers and releases, it is essential to ensure that the documents are completed accurately, signed by the appropriate parties, and in compliance with Bend Oregon state laws. Consulting with a construction attorney or seeking professional advice is advisable to ensure compliance and protect the interests of all parties involved. Keep in mind that these descriptions provide an overview, and it is always recommended referring to the specific legal documents for complete details.The Bend Oregon Conditional Waiver and Release of Claim of Lien Upon Progress Payment is a legal document used in the construction industry to release a claim of lien on a property in exchange for receiving a progress payment. This waiver and release form is crucial for contractors, subcontractors, and suppliers to ensure they receive timely payments for the work they have completed. It offers protection to property owners and construction lenders by ensuring that the lien rights are waived upon receiving payment. There are different types of Bend Oregon Conditional Waiver and Release of Claim of Lien Upon Progress Payment, which include: 1. Conditional Waiver and Release Upon Progress Payment: This type of waiver and release is used when the claimant agrees to release their lien rights upon receiving a progress payment, provided that the payment is not dishonored or reversed. 2. Unconditional Waiver and Release Upon Progress Payment: This waiver and release type is used when the claimant receives a progress payment and agrees to fully release their lien rights without any conditions or reservations. 3. Conditional Waiver and Release Upon Final Payment: This waiver and release is used when the claimant agrees to release their lien rights upon receiving the final payment for the completed project, subject to the payment being valid. 4. Unconditional Waiver and Release Upon Final Payment: This type of waiver and release is used when the claimant receives the final payment for the project and agrees to waive all lien rights without any conditions or reservations. When using any of these waivers and releases, it is essential to ensure that the documents are completed accurately, signed by the appropriate parties, and in compliance with Bend Oregon state laws. Consulting with a construction attorney or seeking professional advice is advisable to ensure compliance and protect the interests of all parties involved. Keep in mind that these descriptions provide an overview, and it is always recommended referring to the specific legal documents for complete details.
