Supplier Lien Waiver

I. Parties

1. [SUPPLIER NAME], referred to herein as the Supplier, with an address at [SUPPLIER ADDRESS].

2. [PROJECT OWNER NAME], referred to herein as the Owner, with an address at [PROJECT OWNER ADDRESS].

II. Assumption of Risk Statement

By proceeding with the execution of this waiver, both parties, [YOUR COMPANY NAME] and [SUPPLIER NAME], acknowledge and accept the inherent risks associated with waiving lien rights on [YOUR COMPANY NAME]'s property. Both parties understand that this waiver may have legal implications and could potentially impact their rights in the event of non-payment or disputes. However, both parties voluntarily assume these risks and agree to abide by the terms and conditions outlined in this waiver agreement.

III. Project Information

The Supplier has provided materials or services for the project named [PROJECT NAME] located at [PROJECT LOCATION].

IV. Scope of Work or Materials Provided

The Supplier has provided the following materials or services: [DESCRIPTION OF MATERIALS OR SERVICES].

V. Purpose and Scope

The purpose of this Waiver is to ensure that once a payment is made by the Recipient to the Supplier for goods or services provided, the Supplier agrees to waive any rights to a lien on the property or premises of [YOUR COMPANY NAME]. This is intended to prevent any potential legal disputes pertaining to payments and property rights.

VI. Condition of Waiver

The Supplier agrees to irrevocably waive all rights to liens against [YOUR COMPANY NAME]'s property upon receiving the complete payment specified in the agreement between the Supplier and the Recipient.

VII. Payment

The full payment schedule, detailed in the linked transactional document or agreed upon contract, shall specify the sum after which this waiver becomes effective. Such payment should fully satisfy any debts, claims, or agreements between [SUPPLIER NAME] and [YOUR COMPANY NAME], rendering the waiver enforceable.

VIII. Waiver Effectiveness

This Waiver becomes effective when [YOUR COMPANY NAME] has made full payment to the Supplier and such payment has been verified and acknowledged by [SUPPLIER NAME].

IX. Governing Law and Jurisdiction

1. Any disputes arising from this waiver shall be governed by the laws of [STATE/COUNTRY] and shall be subject to the exclusive jurisdiction of the courts therein.

X. Dispute Resolution

In the event of any disputes emerging from this Waiver, both parties agree to seek resolution through arbitration or mediation before pursuing legal action. Such proceedings shall be conducted under the laws and regulations of the jurisdiction where [YOUR COMPANY ADDRESS] is located.

XI. Signature

[SUPPLIER NAME]

[DATE]

[PROJECT OWNER NAME]

[DATE]

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