This form is supplied by a contractor, subcontractor, or supplier, whenever payment is made. It serves as a receipt for payment and serves as notice to the property owner that construction lien rights are being waived. This conditional waiver allows the contractor, subcontractor, or supplier to waive part of their lien based on payments already made but reserves the right to peruse a lien for future payments that have not yet been made.
A Detroit Michigan Partial Conditional Waiver of Lien — Individual is a legal document used in the construction industry to protect the rights of subcontractors, suppliers, or laborers working on a project in Detroit, Michigan. This waiver serves as an agreement between the party seeking payment (the claimant) and the property owner or general contractor, ensuring that the claimant will not file a lien against the property in exchange for partial payment. The purpose of this waiver is to provide a level of security to property owners and general contractors by providing assurance that the claimant will not pursue a full lien claim for the amount covered by the waiver. It allows the claimant to receive partial payment for the work they have completed or materials they have supplied while still maintaining their right to pursue a lien claim for any unpaid balance. There may be different types of Detroit Michigan Partial Conditional Waiver of Lien — Individual, such as: 1. Conditional Waiver and Release on Progress Payment: This type of waiver is used when a partial payment is made to the claimant during the course of the project. It signifies that upon receiving the agreed-upon amount, the claimant releases their rights to file a lien for that specific payment. 2. Conditional Waiver and Release on Final Payment: This variant is executed when the project is near completion, and the final payment is made to the claimant. It confirms that upon receiving the final payment, the claimant waives their right to file a lien for the full amount agreed upon. 3. Partial Conditional Waiver and Release of Lien: This type of waiver is utilized when there is a need for partial payment before the completion of the project. It allows the claimant to receive a portion of their payment while still retaining their right to claim a lien for any remaining unpaid amount. It is crucial for both parties involved to ensure that the waiver accurately reflects the agreed-upon payment and conditions outlined in the contract. This document should be signed by the claimant and notarized to be legally binding and enforceable.A Detroit Michigan Partial Conditional Waiver of Lien — Individual is a legal document used in the construction industry to protect the rights of subcontractors, suppliers, or laborers working on a project in Detroit, Michigan. This waiver serves as an agreement between the party seeking payment (the claimant) and the property owner or general contractor, ensuring that the claimant will not file a lien against the property in exchange for partial payment. The purpose of this waiver is to provide a level of security to property owners and general contractors by providing assurance that the claimant will not pursue a full lien claim for the amount covered by the waiver. It allows the claimant to receive partial payment for the work they have completed or materials they have supplied while still maintaining their right to pursue a lien claim for any unpaid balance. There may be different types of Detroit Michigan Partial Conditional Waiver of Lien — Individual, such as: 1. Conditional Waiver and Release on Progress Payment: This type of waiver is used when a partial payment is made to the claimant during the course of the project. It signifies that upon receiving the agreed-upon amount, the claimant releases their rights to file a lien for that specific payment. 2. Conditional Waiver and Release on Final Payment: This variant is executed when the project is near completion, and the final payment is made to the claimant. It confirms that upon receiving the final payment, the claimant waives their right to file a lien for the full amount agreed upon. 3. Partial Conditional Waiver and Release of Lien: This type of waiver is utilized when there is a need for partial payment before the completion of the project. It allows the claimant to receive a portion of their payment while still retaining their right to claim a lien for any remaining unpaid amount. It is crucial for both parties involved to ensure that the waiver accurately reflects the agreed-upon payment and conditions outlined in the contract. This document should be signed by the claimant and notarized to be legally binding and enforceable.
