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  Contractor's Lien Waivers - #4 Unconditional Waiver & Release Upon Final Payment


Welcome to page four of our series devoted to lien waivers / lien releases and which lien waiver / lien release to use when...
[page three]


Construction Lien Waivers - #4 Unconditional Waiver Upon Final Pay

Once you have received FINAL payment and it has cleared your customer's bank account (and you aren't owed any more monies on the job), you will submit a #4 release aka Unconditional Waiver and Release Upon Final Payment aka #4 lien waiver .

When you submit this #4 release you are indicating that you have been paid in full for all work on the project.

Do NOT submit the #4 lien waiver until you have been paid in full. When you submit this #4 release you are giving up all lien rights, meaning you cannot lien the property when and if the general contractor doesn't pay you (or if you're the general contractor, then it's when and if the owner doesn't pay you).

It bears repeating: Do NOT submit the #4 release until you have been paid in full.

If you do submit a #4 lien waiver on a project, and then you're asked to go back to do extra work, you'll need to re-prelim that project for that new dollar amount, in order to protect your lien rights. [Click here to read more about this]


We have inexpensive release forms available, click here!

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Check this out:

  • Comprehensive information on the lien laws of all 50 states and the District of Columbia, keeps you informed about your state.
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  • Invaluable tips and FAQs that inform you of THE 3 R's - your Rights, Restrictions and Responsibilities.
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  • Ongoing NOTIFICATION of important changes in state lien laws via Lien Law eLerts which are conveniently emailed to you.

Click here to read more about LienLawOnline

 

Preliminary Notices Required by Law

Updated for July 2012 new mechanic's lien laws... In California, subcontractors (and now Direct Contractors - used to be known as GC's and also trade contractors who contract directly with an owner) are required by law to do the California 20-day preliminary notice! Get your instant download, re-usable form and detailed instructions on how to do preliminary notices today, right now, in less than 5 minutes!


Free Gift - Practical Solutions, Higher Incomes, and Less Hassles! Click here (a separate window will open) to get the free gift I have for you at InformedContractors.com. Thank you!


"This site is an obvious tool that anyone in construction should be using."
James Farmer Canoga Park, California
read more
 

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By Diane Dennis



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