This Unconditional Waiver and Release of Claim of Lien Upon Final Payment form is for use by a lienor in consideration of final payment to waive and release his or her 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.
The Fargo North Dakota Unconditional Waiver and Release of Claim of Lien Upon Final Payment is a legal document that serves as a proof of contract completion and final payment between the parties involved in a construction project or real estate transaction. This document, commonly used in Fargo, North Dakota, ensures that any outstanding claims or liens against a property are released and waived upon receipt of final payment. The Unconditional Waiver and Release of Claim of Lien Upon Final Payment is an essential tool that protects both contractors and property owners, as it signifies that all financial obligations have been met and that no further claims can be made against the property. In Fargo, North Dakota, there are three common types of Unconditional Waiver and Release of Claim of Lien Upon Final Payment: 1. Partial Unconditional Waiver and Release of Claim of Lien Upon Final Payment: This type of waiver is issued by a contractor, subcontractor, or supplier when they have received a partial payment for their services or materials provided. It confirms that upon receiving the mentioned partial payment, the claimant relinquishes any rights to claim a lien on the property for the amount covered by the payment. 2. Full Unconditional Waiver and Release of Claim of Lien Upon Final Payment: This waiver is commonly used when the contractor, subcontractor, or supplier has received the full and final payment for their work or materials provided. By signing this document, the claimant gives up any right to place a lien on the property for the entirety of the payment received. 3. Conditional Unconditional Waiver and Release of Claim of Lien Upon Final Payment: This type of waiver is used in circumstances where the claimant has received payment but wants to ensure its validity, such as confirming that the check has cleared the bank. It acts as a conditional release until the payment is fully processed and authenticated. It is important to note that these waivers should be thoroughly reviewed, understood, and executed with caution by all parties involved. Furthermore, it is recommended to seek legal advice or consult a professional to ensure compliance with the laws and regulations of Fargo, North Dakota, as well as to protect the rights and interests of all parties concerned.
