Contractor's Final Release And Waiver Of Lien

Contractor's Final Release And Waiver Of Lien Template for Canada

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Key Requirements PROMPT example:

"I need a Contractor's Final Release and Waiver of Lien for an Ontario-based commercial building project where final payment of $2.5M will be released upon receipt of the waiver, with specific provisions for maintaining warranty obligations through March 2025."

Document background

The Contractor's Final Release And Waiver Of Lien is a crucial document used at the completion of construction projects across Canadian jurisdictions. It is typically executed when a contractor has completed their work and received or is about to receive final payment. The document serves multiple purposes: it provides assurance to property owners that no liens will be filed against their property, confirms receipt of full payment by the contractor, and helps facilitate project closeout. The document must comply with provincial legislation such as Ontario's Construction Act or similar acts in other provinces. It includes specific details about the project, parties involved, payment information, and comprehensive release language. This type of release is particularly important in construction financing as lenders often require these waivers before releasing final payments or removing construction loans.

Suggested Sections

1. Identification of Parties: Names and details of the Contractor providing the release and the Party receiving the release (typically the Owner or General Contractor)

2. Project Information: Specific details of the construction project including address, legal description, and project name

3. Contract Reference: Details of the original contract, including date, contract number, and brief scope description

4. Consideration: Statement of the payment amount received or to be received in exchange for the release

5. Release and Waiver: Core section containing the actual release language, waiving all lien rights and claims

6. Representations and Warranties: Contractor's confirmation that all subcontractors and suppliers have been paid

7. Execution: Formal signing section including date, witness requirements, and corporate seal if applicable

Optional Sections

1. Exceptions or Reservations: Used when certain claims or rights are specifically excluded from the release

2. Conditional Release Language: Added when the release is conditional upon receipt of final payment

3. Indemnification: Optional section where contractor agrees to indemnify against any third-party claims

4. Notarization Block: Added when notarization is required by jurisdiction or party requirement

5. Continuing Obligations: Used to specify any obligations that survive the release (e.g., warranty obligations)

Suggested Schedules

1. Schedule A - Project Details: Detailed description of the project including legal property description

2. Schedule B - Payment Details: Breakdown of final payment amount and previous payments received

3. Schedule C - Subcontractor List: List of all subcontractors and suppliers who have provided releases

4. Appendix 1 - Supporting Releases: Copies of releases from subcontractors and suppliers

5. Appendix 2 - Statutory Declaration: Sworn statement regarding payment of all subcontractors and suppliers

Authors

Alex Denne

Head of Growth (Open Source Law) @ ��Ƶ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

alex.den.21@genieai.co

Relevant legal definitions

Clauses

Relevant Industries

Construction

Real Estate Development

Infrastructure

Commercial Property

Industrial Development

Residential Development

Government/Public Sector

Mining

Oil and Gas

Healthcare Facilities

Educational Facilities

Retail Development

Hospitality

Relevant Teams

Legal

Construction Management

Project Management

Finance

Risk Management

Real Estate

Procurement

Contract Administration

Development

Operations

Relevant Roles

Project Manager

Construction Manager

Contract Administrator

Legal Counsel

Construction Lawyer

Property Developer

Site Superintendent

Chief Financial Officer

Risk Manager

Claims Manager

Procurement Manager

Development Director

Construction Controller

Project Coordinator

Real Estate Manager

Find the exact document you need

Lien Waiver (Real Estate)

A Canadian legal document where a party waives their right to file a construction lien on a property, typically used in construction projects across Canadian provinces to acknowledge payment and release lien rights.

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Let's create your Contractor's Final Release And Waiver Of Lien

Authors

Alex Denne

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