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A conditional contractor's lien release form is utilized to protect contractors, subcontractors, suppliers, or other construction professionals who have not received payment for their work or services. The contractor releases any existing liens and waives the right to claim future liens on the condition that payment for work and materials is received. The form becomes effective only upon payment. Key components of this form include the names of both the claimant and the customer, a specification of the duties to be performed, and a detailed outline of the value of all labor, services, and supplies provided to the project for which payment has not yet been received.
