This Conditional Waiver and Release of Lien Upon Final Payment form is for use by a lienor, in consideration of final payment to waive and release his or her lien and right to claim a lien for labor, services or materials furnished through a certain date to a customer on the job of an owner of property. This Conditional Waiver and Release of Lien Upon Final Payment is conditioned upon the lienor receiving collected funds for the work described, and if such funds are not received within a specific number of days of the date of this waiver, this Conditional Waiver and Release of Lien is void.
Charlotte, North Carolina Conditional Waiver and Release of Lien Upon Final Payment is a legal document utilized in construction projects to release a contractor's right to place a lien on a property upon receiving their final payment. This waiver and release act as a form of protection for property owners and general contractors, ensuring that all parties involved are satisfied with the work completed and have met their financial obligations. The conditional aspect of the waiver means that it is only effective upon the condition that the final payment has been received by the contractor. It acts as a potential safeguard for the contractor to ensure that they will be paid for their services before relinquishing their right to file a lien. By signing this document, the contractor confirms their receipt of the final payment and agrees to release any liens they may have had on the property. There are different types of Charlotte, North Carolina Conditional Waiver and Release of Lien Upon Final Payment, including: 1. Unconditional Waiver and Release of Lien Upon Final Payment: This type of waiver becomes effective immediately upon signing and does not include any conditions or requirements. Once the waiver is signed and submitted, the contractor forfeits their right to a lien regardless of the payment status. 2. Conditional Waiver and Release of Lien Upon Final Payment with a Specific Date: This type of waiver specifies a particular date when the final payment is due. The contractor agrees to release their right to place a lien on the property once they receive the payment by the specific date mentioned in the document. 3. Conditional Waiver and Release of Lien Upon Final Payment for Progress Payment: Progress payments are partial payments made to the contractor throughout the project's duration. This type of waiver is applicable when the final payment is divided into multiple progress payments. The contractor signs the waiver and releases their right to a lien upon receiving each progress payment, maintaining the right to file a lien for any remaining unpaid amounts. These different types of Charlotte, North Carolina Conditional Waiver and Release of Lien Upon Final Payment allow for flexibility based on the payment terms agreed upon by the involved parties. By utilizing the appropriate document, property owners and general contractors can protect their interests and ensure a smooth and legally compliant construction process.Charlotte, North Carolina Conditional Waiver and Release of Lien Upon Final Payment is a legal document utilized in construction projects to release a contractor's right to place a lien on a property upon receiving their final payment. This waiver and release act as a form of protection for property owners and general contractors, ensuring that all parties involved are satisfied with the work completed and have met their financial obligations. The conditional aspect of the waiver means that it is only effective upon the condition that the final payment has been received by the contractor. It acts as a potential safeguard for the contractor to ensure that they will be paid for their services before relinquishing their right to file a lien. By signing this document, the contractor confirms their receipt of the final payment and agrees to release any liens they may have had on the property. There are different types of Charlotte, North Carolina Conditional Waiver and Release of Lien Upon Final Payment, including: 1. Unconditional Waiver and Release of Lien Upon Final Payment: This type of waiver becomes effective immediately upon signing and does not include any conditions or requirements. Once the waiver is signed and submitted, the contractor forfeits their right to a lien regardless of the payment status. 2. Conditional Waiver and Release of Lien Upon Final Payment with a Specific Date: This type of waiver specifies a particular date when the final payment is due. The contractor agrees to release their right to place a lien on the property once they receive the payment by the specific date mentioned in the document. 3. Conditional Waiver and Release of Lien Upon Final Payment for Progress Payment: Progress payments are partial payments made to the contractor throughout the project's duration. This type of waiver is applicable when the final payment is divided into multiple progress payments. The contractor signs the waiver and releases their right to a lien upon receiving each progress payment, maintaining the right to file a lien for any remaining unpaid amounts. These different types of Charlotte, North Carolina Conditional Waiver and Release of Lien Upon Final Payment allow for flexibility based on the payment terms agreed upon by the involved parties. By utilizing the appropriate document, property owners and general contractors can protect their interests and ensure a smooth and legally compliant construction process.
