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 Winston-Salem, North Carolina Conditional Waiver and Release of Lien Upon Progress Payment is a legal document used in construction projects to protect the rights of contractors and subcontractors. This document allows them to waive their right to file a lien or claim against a property owner's interest, in exchange for receiving a progress payment for the work completed. Keywords: Winston-Salem, North Carolina, Conditional Waiver and Release of Lien, Progress Payment, Construction Projects, Contractors, Subcontractors, Rights, Property Owner, Interest. There are two types of Winston-Salem, North Carolina Conditional Waiver and Release of Lien Upon Progress Payment: 1. Conditional Waiver and Release of Lien Upon Progress Payment — This type of waiver is used when a contractor or subcontractor receives a progress payment but wants to retain the right to file a lien against the property owner's interest for any unpaid amounts or potential disputes in the future. The waiver is conditional upon receiving the progress payment and does not release all lien rights. 2. Unconditional Waiver and Release of Lien Upon Progress Payment — This type of waiver is used when a contractor or subcontractor receives a progress payment and wants to completely release their right to file a lien against the property owner's interest for the work completed up to that point. Once the payment is received, all lien rights related to the progress payment are permanently waived. It is essential for contractors and subcontractors to understand the terms and conditions mentioned in the Winston-Salem, North Carolina Conditional Waiver and Release of Lien Upon Progress Payment before signing it. This document ensures a fair transaction between all parties involved and simplifies the legal process in case of payment disputes or future claims.The Winston-Salem, North Carolina Conditional Waiver and Release of Lien Upon Progress Payment is a legal document used in construction projects to protect the rights of contractors and subcontractors. This document allows them to waive their right to file a lien or claim against a property owner's interest, in exchange for receiving a progress payment for the work completed. Keywords: Winston-Salem, North Carolina, Conditional Waiver and Release of Lien, Progress Payment, Construction Projects, Contractors, Subcontractors, Rights, Property Owner, Interest. There are two types of Winston-Salem, North Carolina Conditional Waiver and Release of Lien Upon Progress Payment: 1. Conditional Waiver and Release of Lien Upon Progress Payment — This type of waiver is used when a contractor or subcontractor receives a progress payment but wants to retain the right to file a lien against the property owner's interest for any unpaid amounts or potential disputes in the future. The waiver is conditional upon receiving the progress payment and does not release all lien rights. 2. Unconditional Waiver and Release of Lien Upon Progress Payment — This type of waiver is used when a contractor or subcontractor receives a progress payment and wants to completely release their right to file a lien against the property owner's interest for the work completed up to that point. Once the payment is received, all lien rights related to the progress payment are permanently waived. It is essential for contractors and subcontractors to understand the terms and conditions mentioned in the Winston-Salem, North Carolina Conditional Waiver and Release of Lien Upon Progress Payment before signing it. This document ensures a fair transaction between all parties involved and simplifies the legal process in case of payment disputes or future claims.
