With the many functions necessary to ensure the development and continuity of a business, it is not uncommon for a business owner to seek the services of a contractor to develop a property or construct a new building. Not everyone is an expert in construction, and even homeowners hire contractors to develop their personal property.
But what happens if the business owner or homeowner fails to pay for the services provided by the contractors? Is there any way to guarantee that they will be paid? Indeed, there is. That would be what we call a construction lien. After the contractors are paid, a Construction Lien Waiver Form is then drawn up. You may also see our other Construction Forms for your other construction needs.
Free Construction Lien Waiver Form
Final Construction Lien Waiver Form
Construction Lien Waiver Form Example
Contractor Partial Lien Waiver Form
Contractor Lien Waiver Form in PDF
What Is a Construction Lien?
To better understand what a Construction Lien Waiver is, we first have to understand what a construction lien is. As stated on Investopedia, a construction lien is “a claim made against a property by a contractor or other professional who has supplied labor or materials for work on that property.” This mainly exists to protect the contractor from nonpayment for services they have rendered on the property. This also means that the owner of the property cannot claim the property unless payment has been given to the contractor. A construction lien can be placed on either real properties or personal properties.
Another term for a construction lien is mechanic’s lien. It is also called a supplier’s lien for those who supply materials, and laborer’s lien for those who supply labor or manpower. Having this information in mind, we can now clearly define what a construction lien waiver is.
If you are interested, you may also see our Construction Change Order Forms, which are used to change the items in a construction project before completion. This would allow construction companies to draft the changes necessary, and the additional costs that the changes would entail. The changes could either be an addition or an alteration.
Construction Lien Waiver Form Free
Partial Construction Lien Waiver Form
Construction Lien Waiver Form in Word Format
Basic Contractor Lien Waiver Form
What Is a Construction Lien Waiver?
A Construction Lien Waiver is a legal document that is signed by a contractor, supplier, or any other entity contributing to the construction of a property, which states that they release the lien or claim on the property and that they have received payment from the property owner for the services they have rendered. A Construction Lien Waiver Form is part of the payment process after the project has been completed. This, along with Construction Agreement Forms, make sure that every construction project goes smoothly and with little to no disputes.
Types of Construction Lien Waivers
- Final payment waivers: This is used when the payment for the construction services is going to be provided in one full payment, and that is when the project is done.
- Progress payment waivers: This is used when the payment for the construction project is going to be in the form of monthly installments, instead of being in bulk.
- Conditional waivers: A conditional waiver is signed upon the payment of the property owner.
- Unconditional waivers: An unconditional waiver becomes effective the moment that it is signed, regardless of whether payment has been made or not. This type might not be so beneficial for contractors.
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