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PARTIAL WAIVER OF LIEN, CONTRACTORS AFFIDAVIT AND RELEASE OF CLAIMS The undersigned Contractor is the contractor for the performance of certain work and×or the furnishing of certain materials or

How to fill out partial waiver of lien

1. To fill out a partial waiver of lien, you need to have a clear understanding of the document's purpose. It is typically used in the construction industry to waive a specific amount of money owed to a contractor or subcontractor, while still preserving the right to claim a lien on the remaining unpaid balance.
2. Begin by identifying the parties involved in the waiver of lien. This includes the contractor or subcontractor who is waiving the lien (the "Waiveror") and the party who will be making payment (the "Payer"). Also, ensure that you have accurate information about the project, such as the name of the property owner and the location of the construction site.
3. Clearly state the amount of money that is being waived. This amount should reflect only the specific payment for which the waiver is being granted, while any other outstanding balances should not be included.
4. Include the date on which the payment was made or is expected to be made. This helps establish the timeline of the waiver and ensures that it is applicable to the correct payment.
5. Provide the necessary legal language indicating that the Waiveror is releasing and waiving their right to claim a lien for the specified payment amount. It is crucial to use precise and unambiguous language to avoid any confusion or disputes in the future.
6. Include a statement affirming the validity of the waiver, stating that the Waiveror has not received any exceptions or reservations to the waiver, and that they are executing the document willingly and under no duress.
7. Sign and date the partial waiver of lien, ensuring that all parties involved, including the Waiveror, Payer, and any other required individuals or representatives, have signed the document. It is also advisable to have the signatures witnessed or notarized for added legal validity.

Who needs a partial waiver of lien?

1. Contractors or subcontractors who have received a partial payment for work done or materials provided during a construction project may need to issue a partial waiver of lien. This allows them to acknowledge receipt of payment for a specific amount while still reserving the right to file a claim for any remaining unpaid balance.
2. Property owners who are making payments to contractors or subcontractors for specific parts of a construction project may request a partial waiver of lien. This helps protect them from potential claims or liens resulting from the specific payment made and provides documentation of the payment.
3. General contractors who are making payments to subcontractors or suppliers for specific portions of the project may also require a partial waiver of lien. This ensures that the general contractor is safeguarded against potential liens for the payment made to the subcontractor or supplier.
4. Banks or financial institutions that provide loans or financing for construction projects might request partial waivers of lien as part of their lending agreements. This protects their interests by ensuring that payments made to contractors or subcontractors are properly documented and that potential liens are addressed.
5. Any other party involved in a construction project who seeks to establish clear payment terms and protect themselves from potential liens or claims may require a partial waiver of lien. It is always advisable to consult with legal professionals or industry experts to determine the specific needs and requirements for each situation.

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