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Does a Final Unconditional Waiver cover a missed partial payment?

MichiganConstruction Accounting

Hi there! If a sub forgot to sign a waiver during the course of construction (partial unconditional) will a full unconditional waiver cover the missed amount? As long as that payment is included in the total amount on the final? Example: Missed June $100 Final Unconditional issued in July (including the missed $100 in June) for every dollar thesub was paid.

1 reply

Mar 31, 2022
A final unconditional waiver of lien actually covers ALL invoices to date (and arguably the entire contract amount due the subcontractor) whether or not payment was made in full. That does not mean the funds are not owed only that the sub cannot file a lien to recover the missed payments.
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