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 specific date to a customer on the job of an owner of property.
Nassau New York Unconditional Waiver and Release of Lien Upon Progress Payment is a legal document used in the construction industry to release a contractor's or subcontractor's right to place a lien on a property in Nassau County, New York, upon receiving a progress payment for work completed. The purpose of this document is to ensure that all parties involved in a construction project are protected and that payment is made promptly. By signing the unconditional waiver and release of lien, the contractor acknowledges receipt of the progress payment and waives their right to file a lien against the property for the amount paid. There are several types of Nassau New York Unconditional Waiver and Release of Lien Upon Progress Payment, each with its own specific purpose: 1. Final Payment Waiver and Release: This type of waiver is used when the final payment for the project is made, signaling the completion of the construction work. By signing this waiver, the contractor releases their right to file a lien for any outstanding payments. 2. Partial Payment Waiver and Release: This waiver is used when a partial payment is made during the course of the project. It is often used when the project is ongoing, and the contractor needs to be compensated for completed work. By signing this waiver, the contractor releases their right to file a lien for the specified progress payment received. 3. Conditional Waiver and Release: This type of waiver is used when the contractor receives a progress payment but still has some reservations or conditions regarding the payment. The contractor may sign this waiver reluctantly with a condition to receive full payment or resolve any outstanding issues before fully releasing their lien rights. It is important for all parties involved to understand the implications of signing a Nassau New York Unconditional Waiver and Release of Lien Upon Progress Payment. This document prevents potential disputes or delays due to lien filings and promotes a smoother payment process for construction projects in Nassau County, New York. Contractors and subcontractors should consult an attorney or a legal professional to ensure the accuracy and completeness of the waiver before proceeding with signing.Nassau New York Unconditional Waiver and Release of Lien Upon Progress Payment is a legal document used in the construction industry to release a contractor's or subcontractor's right to place a lien on a property in Nassau County, New York, upon receiving a progress payment for work completed. The purpose of this document is to ensure that all parties involved in a construction project are protected and that payment is made promptly. By signing the unconditional waiver and release of lien, the contractor acknowledges receipt of the progress payment and waives their right to file a lien against the property for the amount paid. There are several types of Nassau New York Unconditional Waiver and Release of Lien Upon Progress Payment, each with its own specific purpose: 1. Final Payment Waiver and Release: This type of waiver is used when the final payment for the project is made, signaling the completion of the construction work. By signing this waiver, the contractor releases their right to file a lien for any outstanding payments. 2. Partial Payment Waiver and Release: This waiver is used when a partial payment is made during the course of the project. It is often used when the project is ongoing, and the contractor needs to be compensated for completed work. By signing this waiver, the contractor releases their right to file a lien for the specified progress payment received. 3. Conditional Waiver and Release: This type of waiver is used when the contractor receives a progress payment but still has some reservations or conditions regarding the payment. The contractor may sign this waiver reluctantly with a condition to receive full payment or resolve any outstanding issues before fully releasing their lien rights. It is important for all parties involved to understand the implications of signing a Nassau New York Unconditional Waiver and Release of Lien Upon Progress Payment. This document prevents potential disputes or delays due to lien filings and promotes a smoother payment process for construction projects in Nassau County, New York. Contractors and subcontractors should consult an attorney or a legal professional to ensure the accuracy and completeness of the waiver before proceeding with signing.
