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 particular date to a customer on the job of an owner of property.
The Albuquerque New Mexico Unconditional Waiver and Release of Lien Upon Progress Payment is a legal document that serves as a mechanism for contractors, subcontractors, and material suppliers to waive their right to file a lien on a property in exchange for receiving a progress payment on a construction project in Albuquerque, New Mexico. This waiver ensures that the parties involved can move forward with the project without any potential disputes or legal complications regarding outstanding payments. Keywords: Albuquerque, New Mexico, Unconditional Waiver and Release of Lien, Progress Payment, Construction Project, Contractors, Subcontractors, Material Suppliers. There are a few different types of Albuquerque New Mexico Unconditional Waiver and Release of Lien Upon Progress Payment, each applicable in specific situations. These types include: 1. Unconditional Waiver and Release of Lien Upon Progress Payment — Partial: This type of waiver is used when the party receiving the progress payment acknowledges that they have been partially compensated for their work or materials. It ensures that they will not file a lien for the amount received. 2. Unconditional Waiver and Release of Lien Upon Progress Payment — Final: This type of waiver is used when the party receiving the final payment acknowledges that they have been fully compensated for their work or materials. By signing this waiver, they relinquish their right to file a lien on the property. 3. Unconditional Waiver and Release of Lien Upon Progress Payment — Surety Bond: In cases where a surety bond is being utilized to secure payments, this type of waiver is used to release any liens on the property once a progress payment has been made. 4. Unconditional Waiver and Release of Lien Upon Progress Payment — Materials Stored Off-Site: When materials are stored off-site, this type of waiver is used to release any potential liens related to those materials once a progress payment has been made. It is important for parties involved in construction projects in Albuquerque, New Mexico, to be familiar with these different types of waivers and use the appropriate one for their specific circumstances. This ensures that the payment process runs smoothly and that potential disputes or legal complications are avoided.The Albuquerque New Mexico Unconditional Waiver and Release of Lien Upon Progress Payment is a legal document that serves as a mechanism for contractors, subcontractors, and material suppliers to waive their right to file a lien on a property in exchange for receiving a progress payment on a construction project in Albuquerque, New Mexico. This waiver ensures that the parties involved can move forward with the project without any potential disputes or legal complications regarding outstanding payments. Keywords: Albuquerque, New Mexico, Unconditional Waiver and Release of Lien, Progress Payment, Construction Project, Contractors, Subcontractors, Material Suppliers. There are a few different types of Albuquerque New Mexico Unconditional Waiver and Release of Lien Upon Progress Payment, each applicable in specific situations. These types include: 1. Unconditional Waiver and Release of Lien Upon Progress Payment — Partial: This type of waiver is used when the party receiving the progress payment acknowledges that they have been partially compensated for their work or materials. It ensures that they will not file a lien for the amount received. 2. Unconditional Waiver and Release of Lien Upon Progress Payment — Final: This type of waiver is used when the party receiving the final payment acknowledges that they have been fully compensated for their work or materials. By signing this waiver, they relinquish their right to file a lien on the property. 3. Unconditional Waiver and Release of Lien Upon Progress Payment — Surety Bond: In cases where a surety bond is being utilized to secure payments, this type of waiver is used to release any liens on the property once a progress payment has been made. 4. Unconditional Waiver and Release of Lien Upon Progress Payment — Materials Stored Off-Site: When materials are stored off-site, this type of waiver is used to release any potential liens related to those materials once a progress payment has been made. It is important for parties involved in construction projects in Albuquerque, New Mexico, to be familiar with these different types of waivers and use the appropriate one for their specific circumstances. This ensures that the payment process runs smoothly and that potential disputes or legal complications are avoided.
