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Construction glossary
Construction Glossary •
Partial Lien Waiver
What is a Partial Lien Waiver?
A Partial Lien Waiver, in the construction industry, refers to a legal document drafted to provide assurance to a payer that a contractor, subcontractor or materials supplier has received specified payments and waives its right to place a lien on the construction project to the extent of received payments. This document, typically used to maintain a clear title, only relates to the amount that has been paid up to a certain point. Subsequent payments would need additional waivers. It is advised to closely monitor Partial Lien Waivers as they help in avoiding disputes about the amount due, ensuring smoother construction operation.
Trusted by trade contractors across the country
Other construction terms
Contractor
What is a Contractor?
A contractor in the construction industry is a professional who is tasked with the responsibility of managing and executing construction projects. This could be anything from building houses to constr...
Accrued Expenses
What are Accrued Expenses?
Accrued expenses in the construction industry refer to the costs that have been incurred but not yet paid for by the end of an accounting period. These could include expenses related to labor, materia...
Field
What is a Field?
A field in the construction industry refers to a physical area or a project site where construction activities take place. These fields are typically outdoors, such as building sites or highway projec...
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