Lien waivers may be some of the most misunderstood documents in the construction industry. But because waivers are exchanged on nearly every project, it's important to know how to handle them and what risks and benefits they may provide.
Waivers significantly impact lien rights, and unless you work in one of the 12 states that statutorily regulate them, the content and structure of a waiver is almost limitless. These documents are typically exchanged multiple times on every project, and proper management of waivers is a crucial part of managing or mitigating financial risk.
No matter where you are in the contracting chain, understanding how waivers work and impact you - and the relationships with other people on the project - is essential.
This free e-book presents best practices to follow in order to properly use lien waivers, minimize financial risk, and engage in fair payment practices