This Unconditional 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.
The Charlotte North Carolina Unconditional Waiver and Release of Lien Upon Progress Payment is a legal document used in construction projects to release a contractor's or subcontractor's right to file a lien against a property after receiving a progress payment. This waiver and release ensures that the property owner's title remains clear of any potential liens or claims related to the project. The waiver is considered unconditional, meaning that the contractor or subcontractor is waiving their right to file a lien without any conditions or qualifications. It is an acknowledgement that a specified amount has been paid and that the payment satisfies any claim for that specific period of work. There are typically two types of Charlotte North Carolina Unconditional Waiver and Release of Lien Upon Progress Payment: 1. Partial Unconditional Waiver and Release of Lien Upon Progress Payment: This type of waiver and release is used when the contractor or subcontractor receives a partial payment for work completed during a specific period. It confirms that the received payment is for a specific percentage of the total contract amount and releases any liens related to that specific period. 2. Final Unconditional Waiver and Release of Lien Upon Progress Payment: This type of waiver and release is used when the contractor or subcontractor receives the final payment for the completed project. It confirms that the final payment has been received in full and completely releases any liens related to the entire project. These forms are crucial for both parties involved in a construction project. Property owners gain assurance that contractors or subcontractors will not file any liens against the property for the completed work, while contractors or subcontractors receive payment and relinquish their right to any further claims. It is important to note that the Charlotte North Carolina Unconditional Waiver and Release of Lien Upon Progress Payment is governed by specific laws and regulations in the state. Both parties should consult legal professionals or seek guidance from construction industry experts to ensure compliance with these regulations and to protect their respective interests.
