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Waiver and Release Upon Final Payment Corporation Utah Form

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Waiver and Release Upon Final Payment Corporation Utah Form

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Hi, I'm Karine from 24hr Bookkeeper. Why should you care about lien waivers? Lien waivers should be tied to almost every payment in construction. Their importance should not be overlooked. I'll tell you what they are, why you should send them, and a few best practices from managing those lien waivers. A lien waiver is simply a document that is signed between both parties when payment is exchanged. The main purpose of a lien waiver is to avoid a subcontractor filing a mechanic's lien on the property. If I'm the person sending a payment to my subcontractor, I'd be the one requesting the waiver be signed. Once it's signed, that subcontractor cannot file a mechanic's lien on the property of the project. Lien waivers can serve additional purposes above protecting against mechanic's liens. On basic terms, a lien waiver builds a good relationship between you and your subcontractor. As a subcontractor, you can be assured that your

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