Topic Thread

1.  Lien Waivers

Posted 5 days ago

I am curious if any General Contractor has designed their own lien wavier to accurately reflect economic truth of a progress payment received from an owner.  Most that I have seen have language similar to the one below where I am asked to affirm that all subs and suppliers have been paid in full when the reality is they are not paid in full but paid to date thru the last draw, even if I waited to sign this waiver until after I paid my subs and suppliers they still won't be paid in full. 

 

 

 

BILL LOWRY, CFO

 

C0E8E5AF-91B6-4DBB-BB2D-BD7D58D98EF5

PO Box 689

2501 5th Avenue West, Hibbing, MN 55746

W218.262.6622 / c. 218.969.7219

www.maxgrayconstruction.com

 

 

 



2.  RE: Lien Waivers

Posted 5 days ago
​Lien waivers are of particular interest to me and we have squirrely laws here in Colorado so your point is well made.  In my experience, ask for everything you can and hope you get some of what you need.  We have certainly tailored lien waiver language to particular situations and or projects particularly when the GC is very strong and needs to ensure what is signed at least mostly represents reality.  Language desired might be limited to your state's laws, so consulting an attorney to create a few "customer" options would be ideal.

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Marc Hendrikson CPA, CGMA, CCIFP
Senior Vice President
Citywide Banks
Denver CO
(303) 295-2642
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3.  RE: Lien Waivers

Posted 4 days ago
Most of the lien waivers I have encountered state "paid in full through date..." and this way you would be able to capture the progress payment. The final lien waiver also states the date. Retainage is also stated on a separate paragraph - "except for the retainage amount of.." Some companies obtain lien waivers before the payment - conditional and some after the payment from the client.

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Angel Goldman CCIFP, MBA
CFO
Bartlett Brainard Eacott
Bloomfield CT
(860) 922-5009
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4.  RE: Lien Waivers

Posted 4 days ago
  |   view attached
Look at these waivers and see if they would assist.  There are four; two conditional for partial and final payments and two unconditional for partial and final payments.  Hope this helps.

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Barbara Laden MBA
Controller
Integrity General Contractors, LLC
Dallas TX
(972) 774-5566
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Attachment(s)



5.  RE: Lien Waivers

Posted 3 days ago
​Each state is so different.  We are in Florida and we only put the amount of the actual payment made, so we aren't giving away our lien rights to the retainage money still owed.  Here is the verbiage we use, according to Florida Statutes.

(4) When a lienor is required to execute a waiver or release of lien in exchange for, or to induce payment of, a progress payment, the waiver or release may be in substantially the following form:

WAIVER AND RELEASE OF LIEN
UPON PROGRESS PAYMENT

The undersigned lienor, in consideration of the sum of $ , hereby waives and releases its lien and right to claim a lien for labor, services, or materials furnished through   (insert date)   to   (insert the name of your customer)   on the job of   (insert the name of the owner)   to the following property:

  (description of property)  

This waiver and release does not cover any retention or labor, services, or materials furnished after the date specified.

DATED on  ,   (year)  .       (Lienor)  

By:   

(5) When a lienor is required to execute a waiver or release of lien in exchange for, or to induce payment of, the final payment, the waiver and release may be in substantially the following form:

WAIVER AND RELEASE OF LIEN
UPON FINAL PAYMENT

The undersigned lienor, in consideration of the final payment in the amount of $  , hereby waives and releases its lien and right to claim a lien for labor, services, or materials furnished to   (insert the name of your customer)   on the job of   (insert the name of the owner)   to the following described property:

  (description of property)  

DATED on  ,   (year)  .       (Lienor)  

By:   



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Melissa Schober
Project Accountant II
WELBRO Building Corporation
Maitland FL

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6.  RE: Lien Waivers

Posted 3 days ago
Have you looked at Zlien? They offer a robust lien management solution. Mechanics Lien & Construction Payment Platform | zlien™
zlien remove preview
Mechanics Lien & Construction Payment Platform | zlien™
zlien's cloud-based platform makes lien rights & lien waivers easy, empowering a fair construction ecosystem that everyone can trust.
View this on zlien >


We are building a direct connection within our project management/ construction accounting platform with them, based on our research they offer a well designed solution to make sure you can control and this process for all parties involved in a project.

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Fred Guitton
Chief Revenue Officer - Redteam Software
Project Management & Construction Accounting In One Place
(407) 781-1500
fguitton@redteamsoftware.com
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