Rhode Island Conditional Waiver and Release of Claim of Lien Upon Progress Payment
About this form
The Conditional Waiver and Release of Claim of Lien Upon Progress Payment is a legal document that allows a lienor to relinquish their lien rights for labor, services, or materials provided to a customer, contingent upon receiving payment. Unlike similar forms, this waiver is specifically conditional on the receipt of collected funds, ensuring that the lienor retains protection if payment is not made within an agreed timeframe.
Key parts of this document
- Identification of the lienor, including their name and address.
- Details of the payment amount and the specific services or materials provided.
- The conditions under which the waiver is valid, including the timeframe for payment.
- Signature line for the lienor, attesting to the waiver.
- Notary acknowledgment section for legal validation.
Common use cases
This form is used in situations where a contractor, subcontractor, or supplier needs to ensure they are paid for work done or materials supplied before relinquishing their lien rights. It is particularly useful when progress payments are being made on construction projects, and it helps clarify the financial obligations between parties involved.
Who should use this form
- Contractors who provide services or materials for construction projects.
- Subcontractors looking to secure payment before waiving lien rights.
- Suppliers who wish to ensure payment upon delivering materials.
- Any lienor engaged in work that may otherwise have the right to file a lien if payment is not received.
Instructions for completing this form
- Identify the lienor by filling in their name, company, address, and contact information.
- Specify the date of the waiver and the payment amount being received.
- Clearly state the services or materials provided and the date up to which the lien applies.
- Sign and print the name of the lien holder to validate the waiver.
- Ensure the form is notarized if required for additional legal confirmation.
Does this document require notarization?
This form needs to be notarized to ensure legal validity. US Legal Forms provides secure online notarization powered by Notarize, allowing you to complete the process through a verified video call, available anytime.
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Make edits, fill in missing information, and update formatting in US Legal Forms—just like you would in MS Word.
Download a copy, print it, send it by email, or mail it via USPS—whatever works best for your next step.
Sign and collect signatures with our SignNow integration. Send to multiple recipients, set reminders, and more. Go Premium to unlock E-Sign.
If this form requires notarization, complete it online through a secure video call—no need to meet a notary in person or wait for an appointment.
We protect your documents and personal data by following strict security and privacy standards.
Common mistakes to avoid
- Not including the correct amount for payment or services rendered.
- Failing to specify the date for which the services or materials were provided.
- Leaving out the signature or incorrectly signing the document.
- Neglecting to notarize the form if required by local laws.
- Using outdated versions of the form that may not meet current legal requirements.
Benefits of using this form online
- Conveniently access and download the form anytime from any location.
- Editable templates that allow users to customize their information easily.
- Guidance provided throughout the form to ensure accurate completion.
- Reliable forms keeping up with current laws and regulations.
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FAQ
The undersigned makes this Waiver specifically for the benefit of the Owner and the Owner's lender, and any other person or entity with a legal or equitable interest in the Property.
A "Conditional Waiver and Release Upon Progress Payment" discharges all claimant rights through a specific date, provided the payments have actually been received and processed. An "Unconditional Waiver and Release Upon Final Payment" extinguishes all claimant rights upon receipt of the payment.
It basically states that you've paid the subcontractor what is owed, they accept the payment in full, and they waive the right to put a lien on your property. Simply present this form to the subcontractor with your payment and ask them to sign it. Make sure you get their signature!
Conditional lien waivers are provided by contractors or suppliers before they've been paid. The key language to look for in these documents is upon payment of an amount, the vendor releases their right to file a lien on the work provided up until a certain date.
Conditional lien waivers are conditioned upon something (typically the receipt of payment).The party receiving payment maintains its right to file a lien until the check is actually cashed; the party making payment will never face double payment (paying the party they hired and also being faced with a lien).
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.
LIen waivers are not required to be notarized. The primary times that a document needs to be notarized is if it is going to be filed with the county recorder or it is an affidavit. There are some other documents that often use notarization, but lien...
An "Unconditional Waiver and Release Upon Progress Payment" discharges all claimant rights through a specific date with no stipulations. A "Conditional Waiver and Release Upon Progress Payment" discharges all claimant rights through a specific date, provided the payments have actually been received and processed.
