This Unconditional Waiver and Release Upon Progress Payment is for use by a corporate or LLC lienor, in consideration of a certain sum of money to waive and release its lien and right to claim a lien for labor, services or materials furnished through a certain date to a customer on the job of an owner of property.
Maine Unconditional Waiver and Release Upon Progress Payment - Corporation or LLC
Category:
State:
Maine
Control #:
ME-07A-09
Format:
Word;
Rich Text
Instant download
Description
How to fill out Maine Unconditional Waiver And Release Upon Progress Payment - Corporation Or LLC?
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FAQ
An unconditional waiver and release on progress payment is a legal document stating that a contractor or supplier waives their right to claim a lien on a property after receiving payment. This document reinforces trust between parties, ensuring that payment has been made and accepted. In Maine, using the right form assures all involved parties that the transaction adheres to legal standards. US Legal Forms can assist in providing the correct document for the Maine Unconditional Waiver and Release Upon Progress Payment - Corporation or LLC.
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 waivers don't fall into any of those that "need to be notarized."
Bottom Line: Never Sign an Unconditional Lien Waiver Prior to Receiving Payment!If the lien waiver is the only proof the owner has as to whether a particular party has been paid, the owner must be able to rely on it in order for the lien waiver to accomplish its purpose.
An "Unconditional Waiver and Release Upon Final Payment" extinguishes all claimant rights upon receipt of the payment. A "Conditional Waiver and Release Upon Final Payment" extinguishes all claimant rights upon receipt of the final payment with certain provisions.
An unconditional mechanic's lien waiver states the contractor has in fact been paid in full for the stated work. Write the name of the maker of the check in the space provided on the mechanic's lien release form. Fill in the amount of the payment. Write the name of contractor the payment is being made to.
A lien waiver is quite common in the construction business. Essentially, it is a document from a contractor, subcontractor, supplier, or another party who holds a mechanic's lien that states they have been paid in full and waive future lien rights to the disputed property.
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!
An unconditional release means that there are no restrictions on the release of the lien. This type of lien release is often used in final project documents to confirm that the project is complete, payment has occurred, and you release all future rights to file liens on the project.
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.
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. Exceptions. Claimant's Signature. Claimant's Title. Date of Signature.
