The Conditional Final Lien Waiver is a critical document in Singapore's construction and property development sector, used when a contractor or supplier is ready to waive their lien rights upon receipt of final payment. It provides protection for both the payor and payee by ensuring that payment and lien release occur simultaneously. Under Singapore law, particularly SOPA, this document helps manage payment security and project completion risks. The document typically includes payment details, project information, and specific conditions that must be met for the waiver to take effect.
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1. Project Identification: Details of the construction project including address and project name
2. Parties: Identification of contractor/subcontractor and property owner
3. Payment Amount: Specific amount received or to be received as final payment
4. Waiver Statement: Formal statement waiving lien rights upon receipt of payment
5. Conditions: Specific conditions that must be met for the waiver to become effective
1. Excluded Claims: List of any claims specifically excluded from the waiver, used when certain disputes remain unresolved
2. Retention Amount: Details of any retained amounts, included when retention is applicable
3. Previous Payments: Summary of previous payments, used in complex projects with multiple payment phases
1. Payment Schedule: Detailed breakdown of payment amounts and dates
2. Project Scope: Description of work completed under the contract
3. Supporting Documents: Copies of relevant invoices or payment certificates
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