Alaska Unconditional Waiver and Release of Lien - Progress Payment

Issue a lien release to a property owner after you receive payment in full on a construction project with this Conditional Waiver and Release of Lien form for Alaska contractors.

The form provides a legal mechanism for contractors and suppliers to release their lien claims on a property after receiving full payment for labor, materials, and equipment furnished for improvements. The release is conditional, and only becomes effective once the final payment has cleared the bank.

Key Features

• Full Release Upon Payment: The form allows contractors and suppliers to issue a complete release of their lien claims, ensuring that all obligations are satisfied once payment is confirmed.
• Notice of Completion Included: The template contains a Notice of Completion form, to be signed by the owner / customer to verify the satisfactory completion of the construction project.
• Final Payment Only: This waiver and release should be used exclusively for final payments. It is not suitable for use with progress payments during the course of the project.
• Reusable Template: After purchasing the form, users may utilize it as many times as needed without ever having to buy preprinted forms again.

Jurisdiction

This document is intended solely for use within the State of Alaska. Do not use this form for construction projects in other states, as their lien laws may vary.

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.