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.
A Suffolk New York Unconditional Waiver and Release of Lien Upon Progress Payment is a legal document used in construction projects to protect the interests of contractors, subcontractors, and suppliers. It is commonly associated with the construction industry in Suffolk County, New York. Keywords: Suffolk New York, Unconditional Waiver and Release, Lien Upon Progress Payment, construction projects, contractors, subcontractors, suppliers, construction industry. This waiver serves as a conclusive acknowledgment and acceptance of a progress payment made to a contractor or subcontractor by the party making the payment. It confirms that the contractor or subcontractor has received the payment for work completed or materials supplied up to a specific point in the project. The purpose of this document is to release the lien rights of the contractor or subcontractor to the extent of the progress payment received. By signing this waiver, they waive any future claims against the funds already paid, excluding any additional sums owed for subsequent work or materials. The Suffolk New York Unconditional Waiver and Release of Lien Upon Progress Payment can be categorized into two types: 1. Partial Unconditional Waiver and Release: This waiver is used when a progress payment is made for completed work or materials up to a specific stage of the construction project. It releases the lien rights up to that point, ensuring that the contractor or subcontractor cannot place a lien on the property for the amount already paid. 2. Final Unconditional Waiver and Release: This waiver is utilized when the final payment is made, marking the completion of the construction project. It releases all lien rights, clearing the way for the property owner to obtain a lien-free status. The Suffolk New York Unconditional Waiver and Release of Lien Upon Progress Payment is a vital legal document that ensures transparency and protects the interests of all parties involved in a construction project in Suffolk County, New York. Contractors, subcontractors, and suppliers should carefully consider and understand the provisions of this waiver before signing it, or seek legal advice to ensure proper compliance with the local construction laws and regulations.A Suffolk New York Unconditional Waiver and Release of Lien Upon Progress Payment is a legal document used in construction projects to protect the interests of contractors, subcontractors, and suppliers. It is commonly associated with the construction industry in Suffolk County, New York. Keywords: Suffolk New York, Unconditional Waiver and Release, Lien Upon Progress Payment, construction projects, contractors, subcontractors, suppliers, construction industry. This waiver serves as a conclusive acknowledgment and acceptance of a progress payment made to a contractor or subcontractor by the party making the payment. It confirms that the contractor or subcontractor has received the payment for work completed or materials supplied up to a specific point in the project. The purpose of this document is to release the lien rights of the contractor or subcontractor to the extent of the progress payment received. By signing this waiver, they waive any future claims against the funds already paid, excluding any additional sums owed for subsequent work or materials. The Suffolk New York Unconditional Waiver and Release of Lien Upon Progress Payment can be categorized into two types: 1. Partial Unconditional Waiver and Release: This waiver is used when a progress payment is made for completed work or materials up to a specific stage of the construction project. It releases the lien rights up to that point, ensuring that the contractor or subcontractor cannot place a lien on the property for the amount already paid. 2. Final Unconditional Waiver and Release: This waiver is utilized when the final payment is made, marking the completion of the construction project. It releases all lien rights, clearing the way for the property owner to obtain a lien-free status. The Suffolk New York Unconditional Waiver and Release of Lien Upon Progress Payment is a vital legal document that ensures transparency and protects the interests of all parties involved in a construction project in Suffolk County, New York. Contractors, subcontractors, and suppliers should carefully consider and understand the provisions of this waiver before signing it, or seek legal advice to ensure proper compliance with the local construction laws and regulations.
