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Subcontractor Release Form (Final Lien Waiver) |
The subcontractor release form (final lien waiver) is a document that would release a contractor, vendor and/or owner of the property of a project from a lien that would have been imposed as a result of attempts to collect payment and with reasonable allowable time, failed to receive payment.
This document would provide a release, after, either negotiation has taken place and an agreement to a specific amount has been reached or the contractor/vendor and/or owner has finally satisfied the financial terms of the original agreement.
Once payment has been received by the subcontractor/subvendor and this document has been completed and signed before a notary public, the subcontractor/subvendor will have relieved the contractor/vendor and/or owner of any further responsibility to the subcontractor/subvendor and therefore the subcontractor/subvendor shall have no further interest in the property of the contractor/vendor and/or owner.
How to Write
Step 1 – Download in Adobe PDF (.pdf).
Step 2 – The subcontractor/subvendor must provide the following –
- Enter, in the first line of the document, the amount of the agreement that is agreed, shall satisfy the debt
- In the next line, first paragraph, enter the date of the execution of the document in mm/dd/yyyy format
- Enter the subcontractor’s/subvendor’s name and/or the name of the company
- Enter the name of the project
- Enter the owner of the project
Step 3 – Terms of the Agreement –
- The subcontractor/subvendor, must carefully review terms 1. through 5.
Step 4 – Signatures and Notarization – The subcontractor/subvendor and a company representative as witness, must provide signatures before a notary public so that the document will be effective
- Date the signatures in mm/dd/yyyy format
- Enter the name of the subcontractor/subvendor and/or the company name
- A separate company representative must sign the document in the “By:” line
- The company representative must enter their title
Notarization –
- Once the signatures have been witnessed and properly recorded by a notary public, the notary shall acknowledge the document by completing the notary public portion of the document, affixing their stamp or seal when completed (if any)
The subcontractor/subvendor must collect payment in advance of signing the document inasmuch as it is enforceable against the subcontractor/subvendor if signed, even if the subcontractor/subvendor remains unpaid. It is the responsibility of the subcontractor/subvendor to ensure advance collection
