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A conditional contractor's lien release form safeguards contractors, subcontractors, suppliers, and other construction professionals who haven't been compensated for their work or services. By using this form, a contractor releases any liens and waives the right to assert future liens, contingent on receiving payment for their work and materials. The release will only take effect upon payment receipt. Key elements of the form typically include the names of the claimant and customer, a description of the duties performed, and a detailed account of the labor, services, and supplies provided to the project for which payment is still outstanding.