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 Yonkers New York Conditional Waiver and Release of Lien Upon Progress Payment is a legal document that serves as a crucial element in the construction industry. It outlines the rights and agreements between a contractor or subcontractor (referred to as the "Claimant") and the property owner or general contractor (referred to as the "Owner"). This waiver and release document is used when a construction project reaches specific milestones or stages, and the owner or general contractor agrees to make a progress payment to the claimant. In return for this payment, the claimant provides a conditional waiver and release of any potential lien rights or claims against the property up to the agreed-upon payment amount. It ensures transparency, accountability, and protects the interests of both parties involved. There are several types of the Yonkers New York Conditional Waiver and Release of Lien Upon Progress Payment, based on the payment progress stages or milestones achieved. These may include: 1. Partial Conditional Waiver and Release of Lien Upon Progress Payment: This type of waiver and release form is used when a partial payment is made before the completion of the project. It releases the claimant's lien rights and claims up to the specific amount stated in the document. 2. Final Conditional Waiver and Release of Lien Upon Progress Payment: This waiver and release are used when the project is complete, and the final payment is made. It releases the claimant's lien rights and claims upon receiving the full payment as agreed. 3. Conditional Waiver and Release of Lien Upon Progress Payment With Exceptions: This type of waiver and release form includes exceptions or conditions that limit the claimant's release of lien rights to certain aspects of the project or specific materials and services provided. 4. Conditional Waiver and Release of Lien Upon Progress Payment With List of Unpaid Items: This waiver and release form itemizes any outstanding payments or unpaid items, allowing the claimant to release the lien rights for the paid items only. These different forms of the Yonkers New York Conditional Waiver and Release of Lien Upon Progress Payment ensure the clarity of the payment process, protect the rights of the claimant while granting certain assurances to the property owner or general contractor. It is important for all parties involved in a construction project to understand their rights and obligations as outlined in these documents to avoid any disputes or legal complications.
The Yonkers New York Conditional Waiver and Release of Lien Upon Progress Payment is a legal document that serves as a crucial element in the construction industry. It outlines the rights and agreements between a contractor or subcontractor (referred to as the "Claimant") and the property owner or general contractor (referred to as the "Owner"). This waiver and release document is used when a construction project reaches specific milestones or stages, and the owner or general contractor agrees to make a progress payment to the claimant. In return for this payment, the claimant provides a conditional waiver and release of any potential lien rights or claims against the property up to the agreed-upon payment amount. It ensures transparency, accountability, and protects the interests of both parties involved. There are several types of the Yonkers New York Conditional Waiver and Release of Lien Upon Progress Payment, based on the payment progress stages or milestones achieved. These may include: 1. Partial Conditional Waiver and Release of Lien Upon Progress Payment: This type of waiver and release form is used when a partial payment is made before the completion of the project. It releases the claimant's lien rights and claims up to the specific amount stated in the document. 2. Final Conditional Waiver and Release of Lien Upon Progress Payment: This waiver and release are used when the project is complete, and the final payment is made. It releases the claimant's lien rights and claims upon receiving the full payment as agreed. 3. Conditional Waiver and Release of Lien Upon Progress Payment With Exceptions: This type of waiver and release form includes exceptions or conditions that limit the claimant's release of lien rights to certain aspects of the project or specific materials and services provided. 4. Conditional Waiver and Release of Lien Upon Progress Payment With List of Unpaid Items: This waiver and release form itemizes any outstanding payments or unpaid items, allowing the claimant to release the lien rights for the paid items only. These different forms of the Yonkers New York Conditional Waiver and Release of Lien Upon Progress Payment ensure the clarity of the payment process, protect the rights of the claimant while granting certain assurances to the property owner or general contractor. It is important for all parties involved in a construction project to understand their rights and obligations as outlined in these documents to avoid any disputes or legal complications.
