When To Use
Use G903™ when a contractor is required to provide a conditional lien waiver for final payment on a project not subject to state-specific lien waiver statutes.
What It Does
G903 provides the generic conditional lien waiver for final payment, releasing all lien rights contingent on actual receipt of the final payment. It protects contractors by tying the release to confirmed receipt of funds and ensuring claims are not released until funds clear. It also provides owners with a recognized close-out document.
Additional Information
Several states regulate Lien Waiver and Release forms and require that a specific form be used on projects in that state. Depending on the jurisdiction of your project, governing law may require specific content and formatting within these documents. It is important to consult with an attorney to determine which form is suitable for your needs.
