This Conditional 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. This Conditional Waiver and Release of Lien Upon Progress Payment is conditioned upon the lienor receiving collected funds for the work described, and if such funds are not received within a certain number of days of the date of this waiver, this Conditional Waiver and Release of Lien is void.
The Suffolk New York Conditional Waiver and Release of Lien Upon Progress Payment is a legal document that protects the rights and interests of contractors, subcontractors, and suppliers in Suffolk County, New York. It is designed to facilitate progress payments, reduce disputes, and ensure smooth construction projects. This waiver and release form is typically used when a contractor or subcontractor has completed a specific portion of work on a construction project and is seeking payment for their services. By signing this document, the contractor acknowledges that they have received a partial payment for the work performed and that they waive and release any lien rights they may have had up until that point. The Suffolk New York Conditional Waiver and Release of Lien Upon Progress Payment plays a vital role in ensuring that all parties involved in a construction project are compensated fairly and in a timely manner. It provides protection for property owners and lenders by preventing liens from being placed on the property, thus minimizing the risk of legal disputes and financial complications. Keywords: Suffolk New York, Conditional Waiver, Release of Lien, Progress Payment, Contractors, Subcontractors, Suppliers, Construction Projects, Partial Payment, Lien Rights, Property Owners, Lenders, Legal Disputes, Financial Complications. Different Types of Suffolk New York Conditional Waiver and Release of Lien Upon Progress Payment may include: 1. Conditional Waiver and Release of Lien Upon Partial Payment: This type of waiver is used when a contractor or subcontractor receives a partial payment for completed work and releases any potential lien rights up to that point. 2. Conditional Waiver and Release of Lien Upon Final Payment: This waiver is used when a contractor or subcontractor receives the final payment for their services and releases any remaining lien rights they may have had. 3. Conditional Waiver and Release of Lien Upon Progress Payment (Unconditional): This waiver is used when a contractor or subcontractor receives a progress payment and unconditionally releases any lien rights they may have had. 4. Conditional Waiver and Release of Lien Upon Final Payment (Unconditional): This type of waiver is used when a contractor or subcontractor receives the final payment and unconditionally releases any remaining lien rights.The Suffolk New York Conditional Waiver and Release of Lien Upon Progress Payment is a legal document that protects the rights and interests of contractors, subcontractors, and suppliers in Suffolk County, New York. It is designed to facilitate progress payments, reduce disputes, and ensure smooth construction projects. This waiver and release form is typically used when a contractor or subcontractor has completed a specific portion of work on a construction project and is seeking payment for their services. By signing this document, the contractor acknowledges that they have received a partial payment for the work performed and that they waive and release any lien rights they may have had up until that point. The Suffolk New York Conditional Waiver and Release of Lien Upon Progress Payment plays a vital role in ensuring that all parties involved in a construction project are compensated fairly and in a timely manner. It provides protection for property owners and lenders by preventing liens from being placed on the property, thus minimizing the risk of legal disputes and financial complications. Keywords: Suffolk New York, Conditional Waiver, Release of Lien, Progress Payment, Contractors, Subcontractors, Suppliers, Construction Projects, Partial Payment, Lien Rights, Property Owners, Lenders, Legal Disputes, Financial Complications. Different Types of Suffolk New York Conditional Waiver and Release of Lien Upon Progress Payment may include: 1. Conditional Waiver and Release of Lien Upon Partial Payment: This type of waiver is used when a contractor or subcontractor receives a partial payment for completed work and releases any potential lien rights up to that point. 2. Conditional Waiver and Release of Lien Upon Final Payment: This waiver is used when a contractor or subcontractor receives the final payment for their services and releases any remaining lien rights they may have had. 3. Conditional Waiver and Release of Lien Upon Progress Payment (Unconditional): This waiver is used when a contractor or subcontractor receives a progress payment and unconditionally releases any lien rights they may have had. 4. Conditional Waiver and Release of Lien Upon Final Payment (Unconditional): This type of waiver is used when a contractor or subcontractor receives the final payment and unconditionally releases any remaining lien rights.
