Lien Waiver
noun
A document signed by a potential lien claimant (i.e. a contractor, subcontractor, supplier, equipment lessor, etc.) that, to the extent specified, waives their right to file a lien on a property. Generally, lien waivers act as a “receipt" for payment on a job.
There are four basic types of lien waivers: Conditional Progress Waiver, Conditional Final Waiver, Unconditional Progress Waiver, Unconditional Final Waiver. Sometimes referred to erroneously as a “lien release.”
Also seen as
- Waiver and Release
