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 High Point North Carolina Unconditional Waiver and Release of Lien Upon Progress Payment is a legal document that releases a contractor's rights to file a lien against a property owner for the amount paid to them as progress or partial payment for construction work or services rendered. This waiver signifies that the contractor or subcontractor willingly surrenders any further rights to file a claim against the property owner or general contractor for the specific payment mentioned in the document. Such waivers are commonly used in the construction industry to ensure smooth financial transactions, encourage timely payments, and protect property owners from potential liens. By signing this unconditional waiver, the contractor acknowledges receiving a specific amount of money and acknowledges satisfaction of the corresponding portion of the contract. It is important to note that the waiver is only effective for the amount mentioned, and does not release the contractor from pursuing claims for any additional or unpaid amounts. High Point North Carolina recognizes different types of Unconditional Waivers and Release of Liens Upon Progress Payment, which vary depending on the parties involved and the specific stage of the construction project. Some of these variations include: 1. High Point North Carolina Unconditional Partial Waiver and Release of Lien Upon Progress Payment: This type of waiver is typically used when a contractor receives a partial payment for the work done up to a specific date, usually representing a percentage of the contract value. By signing this document, the contractor relinquishes the right to file a lien against the property owner or general contractor for the payment received. 2. High Point North Carolina Unconditional Final Waiver and Release of Lien Upon Progress Payment: This waiver is used when a contractor receives the final payment, which covers the entire contract amount and signifies completion of the project. By signing this document, the contractor formally releases their right to file a lien against the property owner for any outstanding debts. 3. High Point North Carolina Unconditional Waiver and Release of Lien Upon Progress Payment for Subcontractors: This type of waiver is designed for subcontractors who have been paid by the general contractor for their work on a construction project. By signing this document, the subcontractor releases their right to file a lien against the property owner or general contractor for the amount received. It is important for all parties involved in a construction project in High Point North Carolina to understand the implications and details of these Unconditional Waiver and Release of Lien Upon Progress Payment documents. Seeking legal advice from a qualified professional can ensure compliance with state laws and protect the rights and interests of both contractors and property owners.The High Point North Carolina Unconditional Waiver and Release of Lien Upon Progress Payment is a legal document that releases a contractor's rights to file a lien against a property owner for the amount paid to them as progress or partial payment for construction work or services rendered. This waiver signifies that the contractor or subcontractor willingly surrenders any further rights to file a claim against the property owner or general contractor for the specific payment mentioned in the document. Such waivers are commonly used in the construction industry to ensure smooth financial transactions, encourage timely payments, and protect property owners from potential liens. By signing this unconditional waiver, the contractor acknowledges receiving a specific amount of money and acknowledges satisfaction of the corresponding portion of the contract. It is important to note that the waiver is only effective for the amount mentioned, and does not release the contractor from pursuing claims for any additional or unpaid amounts. High Point North Carolina recognizes different types of Unconditional Waivers and Release of Liens Upon Progress Payment, which vary depending on the parties involved and the specific stage of the construction project. Some of these variations include: 1. High Point North Carolina Unconditional Partial Waiver and Release of Lien Upon Progress Payment: This type of waiver is typically used when a contractor receives a partial payment for the work done up to a specific date, usually representing a percentage of the contract value. By signing this document, the contractor relinquishes the right to file a lien against the property owner or general contractor for the payment received. 2. High Point North Carolina Unconditional Final Waiver and Release of Lien Upon Progress Payment: This waiver is used when a contractor receives the final payment, which covers the entire contract amount and signifies completion of the project. By signing this document, the contractor formally releases their right to file a lien against the property owner for any outstanding debts. 3. High Point North Carolina Unconditional Waiver and Release of Lien Upon Progress Payment for Subcontractors: This type of waiver is designed for subcontractors who have been paid by the general contractor for their work on a construction project. By signing this document, the subcontractor releases their right to file a lien against the property owner or general contractor for the amount received. It is important for all parties involved in a construction project in High Point North Carolina to understand the implications and details of these Unconditional Waiver and Release of Lien Upon Progress Payment documents. Seeking legal advice from a qualified professional can ensure compliance with state laws and protect the rights and interests of both contractors and property owners.
