 |
 |
By Contractors For Contractors!
|
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... 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]
Check this out:
|
|
