UNCONDITIONAL WAIVER AND RELEASE UPON FINAL PAYMENT OKLAHOMA 2025

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The document is an Unconditional Waiver and Release Upon Final Payment form used in Oklahoma. It confirms that the undersigned has received a final payment for labor, services, equipment, or materials provided on a specified property. The undersigned waives any rights to mechanics' liens or bond claims related to the job and assures that all laborers and suppliers will be paid with the received funds.

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What is the purpose of a conditional waiver?

This document is conditional because it only becomes effective when the final payment clears. The purpose of this waiver is to protect both the general contractor and the property owner from potential lien claims once the subcontractor has been fully paid.

What does waived unconditionally mean?

It serves as a guarantee to the property owner that they will not face a lien, or legal claim against their property, for this partys unpaid work or supplies, regardless of whether the party is subsequently paid in full or not.

What does unconditional release mean?

Unconditional release refers to the release of a prisoner from custody without any conditions or restrictions placed on their freedom. Unconditional release is a legal term used in the prison context to describe the release of a prisoner without any conditions or restrictions placed on their freedom.

How to fill out an unconditional waiver and release upon final payment?

How to Fill Out an Unconditional Lien Waiver Form Name of Claimant: This is the name of the person or company releasing the lien (you or your business). Name of Customer: The party who hired you for the project. Job Location: The physical address where the project is located. Owner: The property owners name.

What is an unconditional release waiver?

Unconditional Waiver and Release Upon Final Payment Use this form when the claimant is required to sign a waiver and release in exchange for, or in order to, induce a final payment and the claimant asserts in the waiver that they received the final payment.

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What is a final lien waiver?

Contractors sign a final lien waiver when theyve received payment for services for an entire outstanding balance on a construction project or when an owner pays the entire amount owed for work done on the project. For owners, its an acknowledgment they have cleared their obligations to the general contractor.

What is the difference between conditional and unconditional final waiver?

A conditional lien waiver lists the amount owed during the period, and is effective upon actual receipt of payment. An unconditional lien waiver lists the amount already paid through the waivers date and is effective immediately upon signing.

UNCONDITIONAL WAIVER AND RELEASE UPON FINAL PAYMENT OKLAHOMA 2025

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What is the purpose of a conditional waiver?

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What is a final lien waiver?

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