Bellevue Washington Conditional Waiver and Release of Claim of Lien Upon Progress Payment

• Category: Washington Liens - Construction - Mechanics
• State: Washington
• City: Bellevue
• Control #: WA-08-09
• Format: Word; Rich Text

Description

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 in certain amount for the work described, and if such funds are not received within a particular number of days of the date of this waiver, this Conditional Waiver and Release of Lien is void.

Bellevue Washington Conditional Waiver and Release of Claim of Lien Upon Progress Payment is a legal document used in the construction industry to facilitate the release of a claim of lien upon receiving progress payment. This waiver ensures that the contractor or subcontractor waives their right to place a lien on the property for the specific amount paid. The Bellevue Washington Conditional Waiver and Release of Claim of Lien Upon Progress Payment is typically used when construction projects are underway, and contractors or subcontractors have completed a portion of the work for which they are owed payment. By signing this waiver, they acknowledge receiving a partial payment and, in turn, give up their right to file a lien against the property for the amount stated in the waiver. The purpose of this conditional waiver is to provide assurance to the property owner that all parties involved in the construction project will waive their rights to assert a claim of lien upon receiving the specified partial payment. It creates a sense of security for property owners as it prevents any potential legal complications due to unpaid debts or disputes between contractors and subcontractors. Different types of Bellevue Washington Conditional Waiver and Release of Claim of Lien Upon Progress Payment can include: 1. Conditional Partial Waiver: This type of waiver is used when the contractor or subcontractor has received a partial payment for the work completed. It protects the property owner by waiving the claim of lien for the amount paid, but it does not release any claims for future payments. 2. Conditional Final Waiver: When the contractor or subcontractor has completed the entire project and received the final payment, they can sign this type of waiver. It releases their claim of lien for the entire project but only upon receiving the final payment. 3. Unconditional Partial Waiver: This type of waiver provides an irrevocable release of the claim of lien for the amount paid. It assures the property owner that the contractor or subcontractor will not assert any further claims for the specified partial payment. 4. Unconditional Final Waiver: Upon receiving the final payment, the contractor or subcontractor can sign this waiver, which releases their claim of lien for the entire project. Unlike the conditional final waiver, it does not depend on the payment being final and cannot be revoked. These various types of waivers offer flexibility depending on the stage of the project and the payment received. They aim to establish trust, avoid legal entanglements, and ensure smooth progress and completion of construction projects in Bellevue, Washington.

Law summary