Final Waiver Of Lien Template for India

The Final Waiver of Lien is an essential document in Indian construction and real estate transactions, used when a contractor, subcontractor, or supplier has completed their work and received full payment. This document is particularly important in the Indian legal context, where property rights and construction claims are governed by multiple statutes including the Transfer of Property Act and Indian Contract Act. When executing a Final Waiver of Lien, the party receiving payment formally acknowledges full compensation and surrenders any right to place a lien on the property for unpaid work or materials. The document typically includes project details, payment information, and specific waiver language, serving as protection for property owners against future claims. It's commonly required before final payment release and project closeout, forming a crucial part of the construction project documentation.

1. Project Identification: Details of the construction project including project name, address, and any relevant project numbers

2. Parties: Identification of the waiving party (contractor/subcontractor/supplier) and the party receiving the waiver (usually the property owner or general contractor)

3. Payment Acknowledgment: Confirmation of receipt of payment, including the amount received and that it represents payment in full

4. Waiver Declaration: The formal waiver statement releasing all lien rights and claims related to the project

5. Warranty of Authority: Statement confirming the signing party's authority to execute the waiver

6. Execution: Signature block with date and notary section