A Waiver And Release Of Lien is crucial in Singapore's construction and property development sector to maintain clear property titles and facilitate smooth project completions. This document is typically used when a contractor, subcontractor, or supplier has received payment for their work or materials and needs to formally relinquish their right to file or maintain a lien against the property. The document must comply with Singapore's SOPA requirements and includes specific details about the project, payment received, and the rights being waived. It serves as protection for property owners and developers against future claims.
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1. Parties: Identification of lienor and lienee, including registration details if companies
2. Background: Context of the original contract, work performed, and circumstances leading to lien
3. Definitions: Key terms used in the document including property, contract, and payment details
4. Waiver Statement: Express waiver of rights and release of lien
5. Consideration: Details of payment or other consideration for the release
6. Execution: Signature blocks and witnessing requirements
1. Conditional Terms: Used when release is subject to specific conditions being met, typically when payment or other conditions must be fulfilled before release becomes effective
2. Representations and Warranties: Statements about authority to release lien and status of claims, typically used in complex cases or when dealing with corporate entities
3. Indemnification: Protection against future claims, used when additional security is required by the released party
1. Property Description: Detailed legal description of property subject to lien
2. Payment Details: Breakdown of payments made and outstanding amounts
3. Original Contract: Copy or summary of the contract giving rise to the lien
4. Authorization Documents: Corporate resolutions or power of attorney if required
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