Free Contractor Release and Waiver of Lien
Releases and Waivers are normally used in the construction industry. These forms include conditional and unconditional waiver and release of liens when payments are being made (progress payments) or final payment is received.
Disclaimer:This was not drafted by an attorney & should not be used as a legal document.
Contractor Release & Waiver of Lien
This Release is hereby made on __ day of ________ 20___ by and between ________________ (“Company”) and __________________ (“Contractor”).
WHEREAS, certain disputes and financial transactions have occurred between the parties hereto.
WHEREAS, they desire to amicably resolve these disputes and acknowledge the extinguishment of any and all debts, obligations, and liabilities of any kind between the parties.
WHEREAS, such resolution of such disputes shall be forever binding and satisfactory to each party.
IN CONSIDERATION THEREOF, the parties agree to the following terms and conditions set forth herein,
Contractor hereby releases all claims, liability of any kind whatsoever from the beginning of time to the date of the execution of this agreement,
In addition Contract hereby waives any rights to file any lien against Company’s property.
This Release shall be valid and binding and insure for the benefit of the heirs, successors and assigns of both parties.
This review list is provided to inform you about this document in question and assist you in its preparation. Releases are smart to execute at the conclusion of any agreement or legal relationship. It serves to “release” or “discharge” the parties from any liabilities in the present or past to each other. In a sense, it seals off the past from dispute.
Some practical reasons for these agreements: estate planning purposes; sales or financing of companies; peace of mind in general.
1. Make multiple copies. Give one to each signatory. Keep one with the transaction file.