This Conditional Waiver and Release of Lien Upon Progress Payment form is for use by a lienor, for consideration to waive and release the lienor's lien and right to claim a lien for labor, services or materials furnished through a particular 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 provided, and if such funds are not received within a certain number of days of the date of this waiver, it is void.
Cedar Rapids, Iowa Conditional Waiver and Release of Lien Upon Progress Payment is a legal document used in construction projects to ensure timely payment to contractors, subcontractors, and suppliers. This waiver acts as an assurance that the releasing party waives their right to file a mechanic's lien against the property owner for the amount of the progress payment received. The Cedar Rapids, Iowa Conditional Waiver and Release of Lien Upon Progress Payment document specifies the conditions under which the waiver becomes effective. It highlights the importance of receiving payment for work completed or materials provided on a construction project without jeopardizing the filing of a mechanic's lien. There are two main types of Cedar Rapids, Iowa Conditional Waiver and Release of Lien Upon Progress Payment: 1. Conditional Waiver and Release of Lien Upon Progress Payment: This document is typically used when contractors, subcontractors, or suppliers are unsure about the authenticity or sufficiency of the payment received. By signing this waiver, the releasing party acknowledges that they have received a progress payment, but still, retain the right to file a mechanic's lien if the payment is later found to be insufficient or invalid. 2. Unconditional Waiver and Release of Lien Upon Progress Payment: This type of waiver is commonly employed when there is a high level of trust between the parties involved, indicating that the progress payment has been received in full and without any disputes. By signing this document, the releasing party permanently waives their right to file a mechanic's lien for the specific payment highlighted in the waiver. Both types of waivers are important tools in the construction industry as they facilitate smooth payment processes, ensuring that contractors, subcontractors, and suppliers receive timely compensation for their work or materials. Remember to consult with a qualified legal professional to ensure that the appropriate Cedar Rapids, Iowa Conditional Waiver and Release of Lien Upon Progress Payment document is used for your specific construction project, as laws and requirements may vary.Cedar Rapids, Iowa Conditional Waiver and Release of Lien Upon Progress Payment is a legal document used in construction projects to ensure timely payment to contractors, subcontractors, and suppliers. This waiver acts as an assurance that the releasing party waives their right to file a mechanic's lien against the property owner for the amount of the progress payment received. The Cedar Rapids, Iowa Conditional Waiver and Release of Lien Upon Progress Payment document specifies the conditions under which the waiver becomes effective. It highlights the importance of receiving payment for work completed or materials provided on a construction project without jeopardizing the filing of a mechanic's lien. There are two main types of Cedar Rapids, Iowa Conditional Waiver and Release of Lien Upon Progress Payment: 1. Conditional Waiver and Release of Lien Upon Progress Payment: This document is typically used when contractors, subcontractors, or suppliers are unsure about the authenticity or sufficiency of the payment received. By signing this waiver, the releasing party acknowledges that they have received a progress payment, but still, retain the right to file a mechanic's lien if the payment is later found to be insufficient or invalid. 2. Unconditional Waiver and Release of Lien Upon Progress Payment: This type of waiver is commonly employed when there is a high level of trust between the parties involved, indicating that the progress payment has been received in full and without any disputes. By signing this document, the releasing party permanently waives their right to file a mechanic's lien for the specific payment highlighted in the waiver. Both types of waivers are important tools in the construction industry as they facilitate smooth payment processes, ensuring that contractors, subcontractors, and suppliers receive timely compensation for their work or materials. Remember to consult with a qualified legal professional to ensure that the appropriate Cedar Rapids, Iowa Conditional Waiver and Release of Lien Upon Progress Payment document is used for your specific construction project, as laws and requirements may vary.
