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 Winston-Salem North Carolina Unconditional Waiver and Release of Lien Upon Progress Payment is a legal document used in construction projects to release lien rights upon receiving a progress payment. This waiver ensures that contractors, subcontractors, and suppliers no longer have a claim against the property for the amount paid. Keywords: Winston-Salem North Carolina, unconditional waiver, release of lien, progress payment, construction projects, lien rights, contractors, subcontractors, suppliers, claim against property. Different types of Unconditional Waiver and Release of Lien Upon Progress Payment in Winston-Salem, North Carolina: 1. Partial Unconditional Waiver and Release of Lien Upon Progress Payment: This waiver is used when a partial payment is received during the construction project. It releases the lien for the specific amount paid, while retaining lien rights for any remaining balance. 2. Final Unconditional Waiver and Release of Lien Upon Progress Payment: This waiver is used when the final payment is made at the completion of the construction project. It releases all lien rights for the total amount received and signifies the end of any potential claims against the property. 3. Unconditional Waiver and Release of Lien Upon Progress Payment for Material Suppliers: This type of waiver is specific to suppliers who provide materials for the construction project but do not perform any labor or services. It releases their lien rights upon receiving a progress payment for the materials supplied. 4. Unconditional Waiver and Release of Lien Upon Progress Payment for Subcontractors: This waiver is designed for subcontractors involved in the construction project. It releases their lien rights upon receiving a progress payment for the work performed, excluding any retain age or disputed amounts. By utilizing these different types of Unconditional Waiver and Release of Lien Upon Progress Payment, contractors, subcontractors, and suppliers can ensure the smooth progress of construction projects while protecting their rights to receive payment. It is crucial to understand the specific type of waiver required and ensure its proper execution to avoid any potential legal disputes or complications.The Winston-Salem North Carolina Unconditional Waiver and Release of Lien Upon Progress Payment is a legal document used in construction projects to release lien rights upon receiving a progress payment. This waiver ensures that contractors, subcontractors, and suppliers no longer have a claim against the property for the amount paid. Keywords: Winston-Salem North Carolina, unconditional waiver, release of lien, progress payment, construction projects, lien rights, contractors, subcontractors, suppliers, claim against property. Different types of Unconditional Waiver and Release of Lien Upon Progress Payment in Winston-Salem, North Carolina: 1. Partial Unconditional Waiver and Release of Lien Upon Progress Payment: This waiver is used when a partial payment is received during the construction project. It releases the lien for the specific amount paid, while retaining lien rights for any remaining balance. 2. Final Unconditional Waiver and Release of Lien Upon Progress Payment: This waiver is used when the final payment is made at the completion of the construction project. It releases all lien rights for the total amount received and signifies the end of any potential claims against the property. 3. Unconditional Waiver and Release of Lien Upon Progress Payment for Material Suppliers: This type of waiver is specific to suppliers who provide materials for the construction project but do not perform any labor or services. It releases their lien rights upon receiving a progress payment for the materials supplied. 4. Unconditional Waiver and Release of Lien Upon Progress Payment for Subcontractors: This waiver is designed for subcontractors involved in the construction project. It releases their lien rights upon receiving a progress payment for the work performed, excluding any retain age or disputed amounts. By utilizing these different types of Unconditional Waiver and Release of Lien Upon Progress Payment, contractors, subcontractors, and suppliers can ensure the smooth progress of construction projects while protecting their rights to receive payment. It is crucial to understand the specific type of waiver required and ensure its proper execution to avoid any potential legal disputes or complications.
