Hillsboro Oregon Unconditional Waiver and Release of Claim of Lien Upon Progress Payment

State:
Oregon
City:
Hillsboro
Control #:
OR-12-09
Format:
Word; 
Rich Text
Instant download

Description

This Unconditional Waiver and Release of Claim of Lien Upon Progress Payment form is for use by a lienor, in consideration of a sum of money, to waive and release his or her lien and right to claim a lien for labor, services or materials furnished through a particular date to a customer on the job of an owner of property.

The Hillsboro Oregon Unconditional Waiver and Release of Claim of Lien Upon Progress Payment is a legal document used in construction projects to protect the interests of contractors, subcontractors, and suppliers. This waiver is typically executed by the party who has provided labor, materials, or services on the project, once they have received a progress payment from the property owner or general contractor. By signing this document, the waiving party relinquishes their right to file a lien against the property for the amount stated in the waiver. This unconditional waiver is designed to release the claim of lien upon receiving a progress payment, ensuring that the party receiving payment cannot later file a lien against the property for that particular payment. It assures the property owner that there will be no legal encumbrances or claims on the property resulting from the work performed or materials supplied by the waiving party. In Hillsboro, Oregon, there are different types of unconditional waivers based on the progress payment being made. These include: 1. Partial Payment: This waiver is used when a partial payment is made, covering a portion of the total contract or invoice amount. It confirms that the waiving party has been paid for a specific portion of their work or materials. 2. Final Payment: When the project is complete, and the final payment is made, this waiver is used. It acknowledges that the waiving party has received the entire payment owed for the project, releasing the claim of lien for the full contract or invoice amount. 3. Conditional Payment: Although not an unconditional waiver, it is worth mentioning that it is possible to use a conditional waiver in some circumstances. This type of waiver releases the claim of lien only if the payment is successfully processed or if the payment instrument is honored. It is essential to consult with a qualified attorney or legal professional when dealing with mechanics liens and waivers, as laws and requirements may vary. This information should not be considered legal advice but rather a general overview of the Hillsboro Oregon Unconditional Waiver and Release of Claim of Lien Upon Progress Payment.

The Hillsboro Oregon Unconditional Waiver and Release of Claim of Lien Upon Progress Payment is a legal document used in construction projects to protect the interests of contractors, subcontractors, and suppliers. This waiver is typically executed by the party who has provided labor, materials, or services on the project, once they have received a progress payment from the property owner or general contractor. By signing this document, the waiving party relinquishes their right to file a lien against the property for the amount stated in the waiver. This unconditional waiver is designed to release the claim of lien upon receiving a progress payment, ensuring that the party receiving payment cannot later file a lien against the property for that particular payment. It assures the property owner that there will be no legal encumbrances or claims on the property resulting from the work performed or materials supplied by the waiving party. In Hillsboro, Oregon, there are different types of unconditional waivers based on the progress payment being made. These include: 1. Partial Payment: This waiver is used when a partial payment is made, covering a portion of the total contract or invoice amount. It confirms that the waiving party has been paid for a specific portion of their work or materials. 2. Final Payment: When the project is complete, and the final payment is made, this waiver is used. It acknowledges that the waiving party has received the entire payment owed for the project, releasing the claim of lien for the full contract or invoice amount. 3. Conditional Payment: Although not an unconditional waiver, it is worth mentioning that it is possible to use a conditional waiver in some circumstances. This type of waiver releases the claim of lien only if the payment is successfully processed or if the payment instrument is honored. It is essential to consult with a qualified attorney or legal professional when dealing with mechanics liens and waivers, as laws and requirements may vary. This information should not be considered legal advice but rather a general overview of the Hillsboro Oregon Unconditional Waiver and Release of Claim of Lien Upon Progress Payment.

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Hillsboro Oregon Unconditional Waiver and Release of Claim of Lien Upon Progress Payment