This Conditional Waiver and Release of Lien Upon Final Payment form is for use by a lienor, in consideration of final payment to waive and release his or her lien and right to claim a lien for labor, services or materials furnished through a certain date to a customer on the job of an owner of property. This Conditional Waiver and Release of Lien Upon Final Payment is conditioned upon the lienor receiving collected funds for the work described, and if such funds are not received within a specific number of days of the date of this waiver, this Conditional Waiver and Release of Lien is void.
Yonkers, New York Conditional Waiver and Release of Lien Upon Final Payment is a legal document used in the construction industry to protect contractors, subcontractors, suppliers, and other parties involved in a construction project. This waiver acts as a safeguard against potential payment disputes and ensures that the parties involved receive their rightful compensation. The Yonkers, New York Conditional Waiver and Release of Lien Upon Final Payment relinquishes the claimant's right to place a lien on the property upon receiving final payment. By signing this waiver, the claimant acknowledges that they have been paid in full and releases the property owner or general contractor from any further liability. There are several types of Yonkers, New York Conditional Waiver and Release of Lien Upon Final Payment, each serving a specific purpose: 1. Conditional Waiver and Release Upon Final Payment: This waiver is used when a claimant is expecting to receive final payment for their work or services, and upon confirmation of payment, they waive their right to place a lien. However, if the payment is not received or is insufficient, this waiver does not take effect. 2. Unconditional Waiver and Release Upon Final Payment: Unlike the conditional waiver, this type of waiver removes the right to place a lien regardless of whether full payment has been received or not. It is a more definitive release and is used when the claimant has received the final payment and wishes to waive any further rights. 3. Progress Payment Conditional Waiver and Release: This variation of the waiver is used when a payment is made during the project's progress, rather than upon completion. It allows the claimant to waive the right to file a lien for the specified progress payment upon receiving it. Other conditions, such as ensuring the check gets cleared, may also be mentioned. 4. Final Payment Sworn Statement and Waiver of Lien: Though not strictly a waiver, this document is closely associated with the Yonkers, New York Conditional Waiver and Release of Lien Upon Final Payment. It requires the claimant to provide a sworn statement confirming the completion of their work or services. This statement is often requested by the property owner or general contractor as proof before releasing final payment. In summary, the Yonkers, New York Conditional Waiver and Release of Lien Upon Final Payment is an essential legal document that protects the rights of all parties involved in a construction project. It ensures fair compensation for the claimant while offering assurances to property owners and general contractors that all financial obligations have been fulfilled.Yonkers, New York Conditional Waiver and Release of Lien Upon Final Payment is a legal document used in the construction industry to protect contractors, subcontractors, suppliers, and other parties involved in a construction project. This waiver acts as a safeguard against potential payment disputes and ensures that the parties involved receive their rightful compensation. The Yonkers, New York Conditional Waiver and Release of Lien Upon Final Payment relinquishes the claimant's right to place a lien on the property upon receiving final payment. By signing this waiver, the claimant acknowledges that they have been paid in full and releases the property owner or general contractor from any further liability. There are several types of Yonkers, New York Conditional Waiver and Release of Lien Upon Final Payment, each serving a specific purpose: 1. Conditional Waiver and Release Upon Final Payment: This waiver is used when a claimant is expecting to receive final payment for their work or services, and upon confirmation of payment, they waive their right to place a lien. However, if the payment is not received or is insufficient, this waiver does not take effect. 2. Unconditional Waiver and Release Upon Final Payment: Unlike the conditional waiver, this type of waiver removes the right to place a lien regardless of whether full payment has been received or not. It is a more definitive release and is used when the claimant has received the final payment and wishes to waive any further rights. 3. Progress Payment Conditional Waiver and Release: This variation of the waiver is used when a payment is made during the project's progress, rather than upon completion. It allows the claimant to waive the right to file a lien for the specified progress payment upon receiving it. Other conditions, such as ensuring the check gets cleared, may also be mentioned. 4. Final Payment Sworn Statement and Waiver of Lien: Though not strictly a waiver, this document is closely associated with the Yonkers, New York Conditional Waiver and Release of Lien Upon Final Payment. It requires the claimant to provide a sworn statement confirming the completion of their work or services. This statement is often requested by the property owner or general contractor as proof before releasing final payment. In summary, the Yonkers, New York Conditional Waiver and Release of Lien Upon Final Payment is an essential legal document that protects the rights of all parties involved in a construction project. It ensures fair compensation for the claimant while offering assurances to property owners and general contractors that all financial obligations have been fulfilled.
