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 should such funds not be received within a certain number of days of the date of this waiver, this Conditional Waiver and Release of Lien is void.
The Mecklenburg North Carolina Conditional Waiver and Release of Lien Upon Progress Payment is a legal document used in the construction industry to ensure that contractors and subcontractors are paid for the work they have completed. This waiver serves as a proof of receipt of payment and a relinquishment of the right to file a lien on a property for the amount covered by the payment. This document is typically used in situations where a construction project is ongoing and contractors or subcontractors receive progress payments at specific intervals. By signing the waiver, the contractor acknowledges that they have been paid for the work completed up to a certain point, and in return, they waive their right to file a lien on the property for that portion of the payment. The purpose of the Mecklenburg North Carolina Conditional Waiver and Release of Lien Upon Progress Payment is to provide protection for property owners and general contractors. By obtaining this waiver, they can ensure that all parties involved in the construction project are compensated fairly and that there are no potential legal complications or delays due to liens. Different types of conditional waivers in Mecklenburg North Carolina include: 1. Conditional Waiver and Release of Lien Upon Partial Payment: This waiver is used when a partial payment is made during the construction project, indicating that the contractor or subcontractor has received a specific amount and waives their right to file a lien for that specific portion. 2. Conditional Waiver and Release of Lien Upon Final Payment: This waiver is used when the final payment is made at the completion of the project, indicating that the contractor or subcontractor has received the full payment and waives their right to file a lien for the entire project amount. 3. Conditional Waiver and Release of Lien Upon Progress Payment: This waiver is used for regular progress payments made throughout the duration of the construction project. It indicates that the contractor or subcontractor has received payment for the work completed up to a specific point and waives their right to file a lien for that specific portion covered by the payment. In summary, the Mecklenburg North Carolina Conditional Waiver and Release of Lien Upon Progress Payment is a crucial document in the construction industry. Its purpose is to ensure fair compensation for all parties involved and to prevent any potential legal disputes or delays due to liens. Different types of conditional waivers exist, targeting partial payments, final payments, and progress payments throughout the construction project.The Mecklenburg North Carolina Conditional Waiver and Release of Lien Upon Progress Payment is a legal document used in the construction industry to ensure that contractors and subcontractors are paid for the work they have completed. This waiver serves as a proof of receipt of payment and a relinquishment of the right to file a lien on a property for the amount covered by the payment. This document is typically used in situations where a construction project is ongoing and contractors or subcontractors receive progress payments at specific intervals. By signing the waiver, the contractor acknowledges that they have been paid for the work completed up to a certain point, and in return, they waive their right to file a lien on the property for that portion of the payment. The purpose of the Mecklenburg North Carolina Conditional Waiver and Release of Lien Upon Progress Payment is to provide protection for property owners and general contractors. By obtaining this waiver, they can ensure that all parties involved in the construction project are compensated fairly and that there are no potential legal complications or delays due to liens. Different types of conditional waivers in Mecklenburg North Carolina include: 1. Conditional Waiver and Release of Lien Upon Partial Payment: This waiver is used when a partial payment is made during the construction project, indicating that the contractor or subcontractor has received a specific amount and waives their right to file a lien for that specific portion. 2. Conditional Waiver and Release of Lien Upon Final Payment: This waiver is used when the final payment is made at the completion of the project, indicating that the contractor or subcontractor has received the full payment and waives their right to file a lien for the entire project amount. 3. Conditional Waiver and Release of Lien Upon Progress Payment: This waiver is used for regular progress payments made throughout the duration of the construction project. It indicates that the contractor or subcontractor has received payment for the work completed up to a specific point and waives their right to file a lien for that specific portion covered by the payment. In summary, the Mecklenburg North Carolina Conditional Waiver and Release of Lien Upon Progress Payment is a crucial document in the construction industry. Its purpose is to ensure fair compensation for all parties involved and to prevent any potential legal disputes or delays due to liens. Different types of conditional waivers exist, targeting partial payments, final payments, and progress payments throughout the construction project.
