This Conditional Waiver and Release of Lien Upon Final Payment form is for use by an individual lienor to waive and release his or her lien and right to claim a lien for labor, services or materials furnished in consideration of final payment. This waiver is conditional upon the lienor receiving final payment for his or her work, and if funds are not received, the waiver is void.
Lakeland Florida Conditional Waiver and Release of Lien Upon Final Payment — Individual is a legal document used in the construction industry to release a claim on a property's lien by an individual subcontractor or supplier upon receiving final payment. This conditional waiver and release is designed to protect the rights of subcontractors and suppliers by ensuring they receive payment for their services or materials provided in a construction project. By signing this document, the individual contractor agrees to release any claims or liens they may have against the property once they receive the final payment. The Lakeland Florida Conditional Waiver and Release of Lien Upon Final Payment — Individual is a legally binding agreement that establishes a conditional release of lien rights. It signifies the understanding between the subcontractor or supplier and the property owner or general contractor that the individual will release their lien rights upon receiving final payment for the project. By using this waiver and release document, the individual contractor can protect themselves from any potential disputes or complications that may arise regarding payment at the project's completion. Different types or variations of this waiver may include: 1. Conditional Waiver and Release of Lien Upon Final Payment Individualua— - Partial Payment: This document is used when a partial payment has been made, and the subcontractor or supplier agrees to release any liens upon receiving the specific amount stated in the agreement. 2. Conditional Waiver and Release of Lien Upon Final Payment Individualua— - Final Payment: This type of waiver is used when the final payment is made by the property owner or general contractor, and the individual subcontractor or supplier agrees to release their lien rights once this payment is received. 3. Conditional Waiver and Release of Lien Upon Final Payment Individualua— - Progress Payment: This waiver is used in cases where payments are spread throughout the project's duration. The individual contractor agrees to release any liens once a specific progress payment has been made. It is crucial for individuals in the construction industry in Lakeland, Florida, to understand the implications of this conditional waiver and release of lien upon final payment. Consulting with a legal professional can provide specific guidance and ensure compliance with state laws to protect their rights and secure fair payment for their work or materials.
