This Conditional Waiver and Release of Lien Upon Final Payment form is for use by a corporateor LLC lienor to waive and release its 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 its work, and if funds are not received, the waiver is void.
The Palm Beach Florida Conditional Waiver and Release of Lien Upon Final Payment — Corporation or LLC is a legal document used in the construction industry to protect the rights of contractors, subcontractors, and suppliers who have completed work or provided materials on a project. It is specifically designed for corporations or limited liability companies (LCS) operating in Palm Beach, Florida. This waiver serves as a confirmation that the party releasing the lien (typically the contractor, subcontractor, or supplier) has received final payment for the services rendered or materials supplied. By signing this document, they acknowledge that they have no remaining lien rights or claims against the property owner. The main purpose of the Palm Beach Florida Conditional Waiver and Release of Lien Upon Final Payment — Corporation or LLC is to ensure all parties involved in a construction project have fulfilled their financial obligations. It helps protect the property owner from potential legal disputes and ensures that those who have completed their work or supplied materials are compensated accordingly. There may be variations or additional types of Palm Beach Florida Conditional Waiver and Release of Lien Upon Final Payment specific to certain circumstances. These can include: 1. Partial Conditional Waiver and Release of Lien Upon Final Payment — Corporation or LLC: This waiver is used when the contractor, subcontractor, or supplier receives a partial payment for their work or materials, acknowledging that there is still an outstanding balance due but waiving lien rights only up to the amount received. 2. Unconditional Waiver and Release of Lien Upon Final Payment — Corporation or LLC: This type of waiver is issued without any conditions or qualifications. By signing this document, the releasing party waives all lien rights, regardless of whether final payment has been made. It is crucial for all parties involved in a construction project to carefully review and understand the specific terms and conditions of any waivers and releases they encounter. Seeking legal advice or consulting with a professional in the field is recommended to ensure compliance with applicable laws and protections.
