This Unconditional Waiver and Release Upon Final Payment form is for use by an individual or corporation who has been paid in full for all labor, services, equipment or material furnished to the sub-contractor or agent on the job of the contractor or general contractor located at the customer's or owner's property, to waive and release any right to a mechanic's lien, stop notice, or any right against a labor and material bond on the job. This release covers the final payment for all labor, services, equipment, or material furnished to the customer through a specific date only and does not cover any retentions retained before or after the release date, extras furnished before the release date for which payment has not been received or extras or items furnished after the release date. Rights based upon work performed or items furnished under a written change order which has been fully executed by the parties prior to the release date are covered by this release unless specifically reserved by the claimant in this release.
Colorado lien waiver forms are legal documents that contractors use to waive their right to file a mechanic's lien on a property. When a contractor completes work or supplies materials for a construction project, they may submit a lien waiver form to the property owner or the property owner's agent, typically the general contractor or construction manager. A Colorado lien waiver form with a contractor serves as proof that the contractor has been paid for their services or materials. By signing this form, the contractor acknowledges that they have received full or partial payment for their work and waives any right to file a mechanic's lien in the future. There are four main types of lien waiver forms commonly used in Colorado: 1. Conditional Lien Waiver on Progress Payment: This form is used when the contractor receives partial payment for the work completed or materials supplied up to a specific date. It states that the contractor will waive their lien rights upon receiving the payment but can still file a lien if the payment is not received. 2. Unconditional Lien Waiver on Progress Payment: Similar to the conditional lien waiver, this form is used when the contractor receives partial payment. However, by signing this form, the contractor waives their right to file a lien, regardless of whether they receive payment or not. 3. Conditional Lien Waiver on Final Payment: This form is used when the contractor receives the final payment for the project. It states that the contractor will waive their lien rights upon receiving the payment but can still file a lien if the payment is not received. 4. Unconditional Lien Waiver on Final Payment: Similar to the conditional lien waiver, this form is used when the contractor receives the final payment. By signing this form, the contractor waives their right to file a lien, regardless of whether they receive payment or not. Colorado lien waiver forms with contractors are crucial for both parties involved in a construction project. They provide protection to the property owner, ensuring that all contractors have been paid and cannot file a lien in the future. Additionally, they offer assurance to contractors that they will receive payment for their work or materials. It is important for contractors to carefully review and understand the terms and conditions stated in the lien waiver forms before signing them. They should ensure that the provided information is accurate and that the amount mentioned matches the actual payment received. By utilizing the appropriate Colorado lien waiver form with a contractor, both parties can confidently proceed with the construction project, minimizing the risk of disputes and potential legal action related to mechanic's liens.
