This Unconditional Waiver and Release of Claim of Lien Upon Progress Payment form is for use by a lienor, in consideration of a 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 particular date to a customer on the job of an owner of property.
Portland Oregon Unconditional Waiver and Release of Claim of Lien Upon Progress Payment is a legal document used in the construction industry to release a contractor or subcontractor's claim of lien upon receiving a progress payment for the work completed. This waiver serves as an assurance to the property owner or general contractor that the contractor or subcontractor will not file a lien on the property for the specified payment. Keywords: Portland Oregon, unconditional waiver, release, claim of lien, progress payment, construction industry, contractor, subcontractor, property owner, general contractor There are two different types of Portland Oregon Unconditional Waiver and Release of Claim of Lien Upon Progress Payment: 1. Conditional Waiver and Release of Claim of Lien Upon Progress Payment: This type of waiver is used when the contractor or subcontractor wants to release their claim of lien upon receiving a progress payment but wants to reserve their rights to file a lien in case the payment is not honored or if any issues arise in the future. 2. Unconditional Waiver and Release of Claim of Lien Upon Progress Payment: This type of waiver is used when the contractor or subcontractor wants to completely release their claim of lien upon receiving the progress payment. By signing this document, they acknowledge that the payment has been received and that they have no further claims against the property. It is important for both parties involved in a construction project to understand the implications of signing a waiver and release. Property owners need to ensure that they receive the appropriate waiver before making a progress payment to protect themselves from potential liens. Contractors and subcontractors, on the other hand, should carefully review the document to ensure that they are not waiving their rights prematurely. Legal guidance should always be sought before signing any waiver and release document to ensure it complies with local laws and protects the interests of all parties involved.Portland Oregon Unconditional Waiver and Release of Claim of Lien Upon Progress Payment is a legal document used in the construction industry to release a contractor or subcontractor's claim of lien upon receiving a progress payment for the work completed. This waiver serves as an assurance to the property owner or general contractor that the contractor or subcontractor will not file a lien on the property for the specified payment. Keywords: Portland Oregon, unconditional waiver, release, claim of lien, progress payment, construction industry, contractor, subcontractor, property owner, general contractor There are two different types of Portland Oregon Unconditional Waiver and Release of Claim of Lien Upon Progress Payment: 1. Conditional Waiver and Release of Claim of Lien Upon Progress Payment: This type of waiver is used when the contractor or subcontractor wants to release their claim of lien upon receiving a progress payment but wants to reserve their rights to file a lien in case the payment is not honored or if any issues arise in the future. 2. Unconditional Waiver and Release of Claim of Lien Upon Progress Payment: This type of waiver is used when the contractor or subcontractor wants to completely release their claim of lien upon receiving the progress payment. By signing this document, they acknowledge that the payment has been received and that they have no further claims against the property. It is important for both parties involved in a construction project to understand the implications of signing a waiver and release. Property owners need to ensure that they receive the appropriate waiver before making a progress payment to protect themselves from potential liens. Contractors and subcontractors, on the other hand, should carefully review the document to ensure that they are not waiving their rights prematurely. Legal guidance should always be sought before signing any waiver and release document to ensure it complies with local laws and protects the interests of all parties involved.
