Final Waiver And Release Of Lien Template for Malaysia

The Final Waiver And Release Of Lien is a critical document in Malaysian construction and development projects, typically used at the completion of work when final payment has been made. Under Malaysian law, particularly the Construction Industry Payment and Adjudication Act 2012 (CIPAA), contractors and suppliers have the right to place liens on property to secure payment for their work or materials. When final payment is received, this document formally releases these lien rights, providing property owners with assurance that no future claims will be made against their property. The document must include specific details about the project, parties involved, payment information, and explicit release language to be legally effective under Malaysian jurisdiction.

1. Parties: Identification of the Contractor/Subcontractor (Lien holder) and the Property Owner/General Contractor (Released Party), including full legal names and addresses

2. Background: Context of the original contract, description of work performed, and reference to the project location and contract details

3. Definitions: Key terms used in the document including 'Lien Rights', 'Project', 'Contract', 'Final Payment', and 'Property'

4. Acknowledgment of Payment: Confirmation of receipt of final payment amount and statement that it represents full payment for all work performed

5. Release of Lien: Explicit waiver and release of all lien rights related to the project

6. Representations and Warranties: Contractor's confirmation that all subcontractors and suppliers have been paid and no outstanding claims exist

7. Governing Law: Specification that the agreement is governed by Malaysian law and reference to relevant legislation

8. Execution: Signature blocks, date, and witness requirements