Document background
The Conditional Lien Waiver is a fundamental document in Nigerian construction law that manages risk and ensures fair payment practices in construction projects. This document is typically used when a contractor, subcontractor, or supplier is preparing to receive payment for work completed or materials supplied, but wants to ensure the payment is properly received before releasing their lien rights. The waiver becomes effective only when specified conditions are met, usually the receipt and clearance of payment. Under Nigerian law, this document must include specific elements such as clear party identification, property description, payment amounts, and condition specifications. The Conditional Lien Waiver helps maintain a balance between protecting the rights of contractors to receive payment and providing property owners with assurance that they won't face multiple payments or liens for the same work.
