The 4 Types of Lien Waivers in Construction [The Simple Guide] скачать в хорошем качестве

The 4 Types of Lien Waivers in Construction [The Simple Guide]

Executing the wrong type of lien waiver can be a costly mistake. This video explains the similarities and differences between the 4 types of lien waivers in construction. 00:00 - Intro 00:13 - How to Choose Your Waiver 00:41 - Difference Between Types 01:14 - Conditional vs Unconditional #LienWaivers #ConditionalWaivers #UnconditionalWaivers The difference between partial and final lien waivers is straight forward, but the difference between unconditional lien waivers and conditional lien waivers is an extremely important distinction. Not fully understanding the differences between the four types of lien waivers can result in signing the wrong lien waiver, and potentially forfeit your lien rights. Check out this video to learn about the 4 types of waivers. Remember that having a strong waiver policy in place will help speed up payments and avoid liens on your construction projects. Lien waivers are exchanged on almost every construction project because they’re super useful in mitigating the risk of a mechanics lien. In every state, there are four types of waivers to choose from… So how do you choose the right one to send or request? First step is making sure you have the correct lien waiver for state you’re working in. Twelve States in the US have a statutorily required forms that MUST be used if you are working in that state. If you’re working in the 38 other states, you can use a standard lien waiver form downloadable for free at http://levelset.com, or obtained somewhere else. Now that you have the right set of lien waivers for the state you are working in - lets take a look at the difference between the 4 types. In general, there are 4 types of Lien waivers. Two for progress payments, and two for final payments. If you are still working on the job and expecting to send or receive another invoice or disperse future payments, you will want to use one of the two partial (or “progress”) waivers. If you sent a final invoice and the project is wrapping up, you will choose one of the two final payment waivers. Partial waivers are for during a job, and final waivers are for when the job is finishing. Within both partial and final waiver groups, there are “conditional waivers” and ”unconditional waivers” … Conditional waivers, waive the lien rights ONLY after payment has been received while unconditional waivers will waive the amount in the lien waiver the moment it’s signed. At levelset we are passionate about fairness and will always recommend that conditional lien waivers are used whenever possible, since they benefit both parties. Unconditional waivers are risky to sign if you don’t have that payment fully secured yet - so be careful. You should only sign an unconditional waiver if the money is in your bank account, not just when you get the check. That’s what you need to know about the 4 types of waivers and when to send and request them. Levelset is here to help you with lien waivers. Visit http://levelset.com to learn more about lien waivers, or to send & request lien waiver through our easy-to-use platform. Levelset helps contractors and suppliers get payment under control, and sees a world where no one loses a night’s sleep over payment. Over 500,000 contractors and suppliers connect on Levelset’s cloud-based platform to make payment processes stress-free. Users easily exchange payment documents like lien waivers, pay applications, and preliminary notices, they see a complete picture of who is on their job, and are empowered with the resources and knowledge they need to be confident in payment. The results are faster payments and fewer surprises. Levelset is venture-backed by S3 Ventures, Altos Ventures, and Brick & Mortar Ventures. Headquartered in New Orleans with offices in Austin and Cairo, Egypt, Levelset employs more than 150 people. For more information about Levelset, visit www.levelset.com or call 866-720-5436. Want to become a payment expert? Subscribe to get notified when new construction payment videos are uploaded: https://www.youtube.com/c/levelset?su...