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WAIVER and RELEASE of LIEN UPON PROGRESS PAYMENT CORPORATION Form

WAIVER and RELEASE of LIEN UPON PROGRESS PAYMENT CORPORATION Form

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Since lien waivers are so important to the construction payment process and are used very commonly, the routine nature of these documents make them susceptible to mistakes. Let's go over the top three things that can go wrong when exchanging lien waivers. Number one: executing an unfair lien waiver or basically signing forms that contain unfair legal terms. 38 states don't have a statutory or state required lien waiver form you must use, so some contractors or property owners may try to sneak in some strongly worded or even unfair language into the document. The lien waiver is not intended to do this. It's an acknowledgement of payment and barely anything more. Failing to read the lien waiver language and agreeing to language that's unfair can cost your company a lot, so be careful when you're excited by the promise of getting paid. Make sure you read the fine print. Mistake number two: executing an inaccurate lien waiver. This is also common but

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