This Unconditional Waiver and Release of Claim 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 particular date to a customer on the job of an owner of property.
Fargo, North Dakota: Unconditional Waiver and Release of Claim of Lien Upon Progress Payment In Fargo, North Dakota, an Unconditional Waiver and Release of Claim of Lien Upon Progress Payment is a legal document used in the construction industry to release a claim of lien against a property owner's progress payment to a contractor or subcontractor. This document signifies that the claimant has received their payment and waives their right to file a lien on the property for the specific progress payment being made. The Unconditional Waiver and Release of Claim of Lien is typically executed by the contractor or subcontractor and serves as proof that they have been paid for the work they have completed thus far. By signing this waiver, the claimant acknowledges that they have no further claim or lien against the property for the specific progress payment amount mentioned in the document. This waiver is unconditional, meaning that once it is signed and delivered to the property owner or general contractor, the claimant relinquishes their right to file a lien specifically for the payment mentioned. It is essential to note that this waiver only applies to the progress payment being made and does not release any claims or liens on retain age or future payments. Different types of Unconditional Waiver and Release of Claim of Lien Upon Progress Payment in Fargo, North Dakota may include: 1. Unconditional Partial Waiver and Release of Claim of Lien: This waiver is used when the contractor or subcontractor has received a partial progress payment and is releasing their claim of lien for that specific payment amount. 2. Unconditional Final Waiver and Release of Claim of Lien: This waiver is used when the contractor or subcontractor has received the final progress payment and is releasing their claim of lien for the entire project. 3. Unconditional Conditional Waiver and Release of Claim of Lien: This waiver is used when the contractor or subcontractor is releasing their claim of lien upon receipt of a progress payment but with conditions attached, such as ensuring the payment clears the bank. It is important to understand that signing an unconditional waiver and release of claim of lien is a significant legal step and may have long-term consequences. It is advisable to consult with an attorney or seek professional advice to ensure that the waiver is executed correctly and fully protects the claimant's rights. Overall, the Unconditional Waiver and Release of Claim of Lien Upon Progress Payment in Fargo, North Dakota, is a necessary legal document in the construction industry, allowing contractors and subcontractors to receive their progress payments while waiving their lien rights specific to the payment received.
