The Final Waiver of Lien is a crucial document in Canadian construction projects that provides legal assurance of payment completion and release of lien rights. It is typically used at the completion of a project or substantial portion thereof, when a contractor, subcontractor, or supplier has received final payment for their work or materials. The document serves as protection for property owners and lenders by ensuring that no future lien claims can be filed against the property for the work covered by the waiver. This document must comply with specific provincial requirements, as construction lien rights are governed by provincial legislation such as the Construction Act in Ontario or the Builders' Lien Act in other provinces. The Final Waiver of Lien includes critical information such as project details, payment confirmation, and explicit waiver language, making it an essential tool for project closeout and risk management.

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

2. Parties: Identification of the waiving party (contractor/subcontractor/supplier) and the party receiving the waiver

3. Payment Acknowledgment: Confirmation of receipt of payment amount and details of the payment being acknowledged

4. Waiver Statement: Clear and explicit waiver of lien rights and claims

5. Property Description: Legal description of the property against which the lien rights are being waived

6. Execution Block: Signature blocks, date, and notary section if required