This Conditional Waiver and Release of Claim 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 particular 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 Allentown Pennsylvania Conditional Waiver and Release of Claim of Lien Upon Progress Payment is a legal document that provides protection to contractors, subcontractors, and suppliers who have performed work or provided materials for a construction project in Allentown, Pennsylvania. By executing this waiver, the party waives and releases their right to file a lien against the property in exchange for receiving payment for their work or materials. This conditional waiver is typically used when the party's payment is contingent upon a specific progress payment being made. It ensures that while the contractor, subcontractor, or supplier is releasing their lien rights partially, they are still protected in case the payment is not received or is insufficient. Some important keywords associated with the Allentown Pennsylvania Conditional Waiver and Release of Claim of Lien Upon Progress Payment include: 1. Allentown, Pennsylvania: Referring to the geographical jurisdiction where this waiver is applicable. 2. Conditional Waiver: Emphasizing that the release of lien rights is contingent upon certain conditions being met. 3. Release of Claim of Lien: Indicating that the party is giving up their right to file a lien against the property. 4. Progress Payment: Signifying that the waiver is related to a partial payment made as the construction project progresses. 5. Contractors: Individuals or businesses responsible for overseeing and completing the construction project. 6. Subcontractors: Companies hired by the main contractor to perform specific tasks or provide specific services. 7. Suppliers: Individuals or businesses providing materials or equipment for the construction project. There might exist variations or specific types of Allentown Pennsylvania Conditional Waiver and Release of Claim of Lien Upon Progress Payment based on different scenarios or parties involved in the construction project. These could include waivers for subcontractors, suppliers, or prime contractors, each tailored to their unique roles and responsibilities. Understanding and executing the Allentown Pennsylvania Conditional Waiver and Release of Claim of Lien Upon Progress Payment is crucial for ensuring smooth financial transactions within the construction industry, protecting the rights and interests of all involved parties, and avoiding legal disputes stemming from potential payment issues.The Allentown Pennsylvania Conditional Waiver and Release of Claim of Lien Upon Progress Payment is a legal document that provides protection to contractors, subcontractors, and suppliers who have performed work or provided materials for a construction project in Allentown, Pennsylvania. By executing this waiver, the party waives and releases their right to file a lien against the property in exchange for receiving payment for their work or materials. This conditional waiver is typically used when the party's payment is contingent upon a specific progress payment being made. It ensures that while the contractor, subcontractor, or supplier is releasing their lien rights partially, they are still protected in case the payment is not received or is insufficient. Some important keywords associated with the Allentown Pennsylvania Conditional Waiver and Release of Claim of Lien Upon Progress Payment include: 1. Allentown, Pennsylvania: Referring to the geographical jurisdiction where this waiver is applicable. 2. Conditional Waiver: Emphasizing that the release of lien rights is contingent upon certain conditions being met. 3. Release of Claim of Lien: Indicating that the party is giving up their right to file a lien against the property. 4. Progress Payment: Signifying that the waiver is related to a partial payment made as the construction project progresses. 5. Contractors: Individuals or businesses responsible for overseeing and completing the construction project. 6. Subcontractors: Companies hired by the main contractor to perform specific tasks or provide specific services. 7. Suppliers: Individuals or businesses providing materials or equipment for the construction project. There might exist variations or specific types of Allentown Pennsylvania Conditional Waiver and Release of Claim of Lien Upon Progress Payment based on different scenarios or parties involved in the construction project. These could include waivers for subcontractors, suppliers, or prime contractors, each tailored to their unique roles and responsibilities. Understanding and executing the Allentown Pennsylvania Conditional Waiver and Release of Claim of Lien Upon Progress Payment is crucial for ensuring smooth financial transactions within the construction industry, protecting the rights and interests of all involved parties, and avoiding legal disputes stemming from potential payment issues.
