Michigan Conditional Waiver

Michigan Partial Conditional Waiver

A waiver should always be given by a contractor, subcontractor or supplier whenever payment is made. In simple terms, it is a receipt for payment. But most importantly, it announces to the homeowner that the construction lien rights are being relinquished – either in full, if full payment is received; or in part, if partial payment was received. Waivers are legal documents and must use prescribed wording. To be considered legal documents, and to serve the purpose for which they were designed, use the appropriate type of waiver as identified below. Be certain of the kind of Waiver that you sign is appropriate to the situation. PARTIAL CONDITIONAL WAIVER is a "receipt" for partial payment which may still have a condition pending, or will be effective as soon as payment is received. With partial waivers a balance may still be owing, or more work may remain to be done. A lien right still exists for any unpaid debts until the contract is paid in full.