Alaska Conditional Waiver and Release of Lien on Final Payment

Release your lien rights for the period up to the date of a progress payment with this Alaska Conditional Waiver and Release of Lien Upon Progress Payment.

According to the Alaska Mechanics Lien Statute, contractors who provide labor, materials, or equipment for a construction project are granted a lien right on the property where the work has been performed. This legal protection ensures that contractors have a security interest in the property until they are compensated for their contributions.

Release of Lien Rights Upon Payment

Once a property owner issues a progress payment to the contractor for improvements made, it becomes the contractor’s responsibility to release their lien rights for the period covered by the payment. The release applies only up to the date of the payment, reflecting the work that has been compensated.

Conditional Nature of the Waiver

This waiver is conditional, meaning it does not become effective until the contractor actually receives the progress payment. Until the payment is confirmed, the lien rights remain in place.

Document Format

The Alaska Conditional Waiver and Release of Lien Upon Progress Payment is available in MS Word format for convenience and ease of use. Purchase the form once, use it over and over on all of your projects.

Jurisdiction

It is intended that this document be used only within the State of Alaska. Using this form outside Alaska is not recommended, as other states may have different lien laws and requirements.

This Alaska Lien Waiver and Release Forms Package contains all of your lien release forms together in one convenient downloadable file which contains:

1. Conditional Waiver and Release of Lien Upon Progress Payment,
2. Unconditional Waiver and Release of Lien Upon Progress Payment,
3. Conditional Waiver and Release of Lien Upon Final Payment, and
4. Unconditional Waiver and Release of Lien Upon Final Payment.

If you're a contractor in the State of Alaska, you'll be able to prepare your Lien Waiver and Release forms quickly and easily with this package of affordable and downloadable templates.

Release your lien rights after final payment on a construction job with this Unconditional Waiver and Release form for Alaska contractors.

When to Use This Form

The release is unconditional. Use this form only after all payments due on the construction job have been received and verified. Do not use this form for progress payments or partial payments.

Instructions for Completing and Delivering the Form

1. Confirm that the final payment has cleared the bank before preparing the waiver and release.
2. Complete the form accurately, reflecting the final payment details.
3. Provide the completed release form to the property owner to officially relinquish your lien rights.

Important Considerations

• This release does not affect any disputed amounts or holdbacks. Only undisputed, cleared payments are covered by the waiver.
• Because the waiver is full and unconditional, ensure that all checks have cleared before signing and delivering the form.
• This form is available as a digital download in MS Word format, allowing you to re-use it as often as your business requires.
• The form is intended for use exclusively in the State of Alaska.

Keep the progress payments coming by providing property owners with an Unconditional Waiver and Release of Lien for Alaska contractors.

This waiver allows contractors working on construction jobs in Alaska to release all lien rights and claims for payment against the property up to the date covered by the progress payment. By providing the owner with this waiver and release, contractors help ensure that property owners continue to make progress payments in a timely manner.

Purpose of the Waiver

Providing your lien waivers quickly encourages property owners to make their progress payments in a timely manner throughout the duration of a construction project. The document serves as a full and unconditional release for the specified time period, giving property owners the confidence that there are no outstanding claims or liens up to that date.

How to Obtain the Form

Simply click the "Add to Cart" button and proceed to checkout. Upon completing the purchase, the form will be downloaded to your device automatically.

Jurisdiction and Use

This document is intended exclusively for use within the State of Alaska. Contractors and property owners should avoid using this form outside Alaska, as other states have different laws and requirements regarding lien waivers and releases.