Partial Lien Waiver Form Indiana
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FAQ
Here is a field-by-field breakdown of this form: Name of Claimant. This is the name the party to be paid, and the party who will be signing the lien waiver document. ... Name of Customer. ... Job Location. ... Owner. ... Maker of the Check. ... Amount of the Check. ... Check Payable To. ... Exceptions.
Partial payment waiver - removes the right to place a lien up to the amount of money that has already been paid for the job. Final payment form - removes that right only once the final payment has been made.
A partial lien waiver is a document where the signer acknowledges that he has received a progress payment and agrees to waive his rights to place a lien on that portion of a project. A partial lien waiver sometimes acts as a receipt showing that partial payment has been made.
Contracts requiring a party to waive their claims under a payment bond are prohibited. Indiana has no requirement that a lien waiver must be notarized.
This in lien waiver form is ?conditional? on the receipt of the payment and will be invalid if payment is not received. Because of this condition, it's ok to use if payment has not yet been received. Pro tip: If payment has already been received in full, an ?unconditional? waiver may be more appropriate.