Document background
The Supplier Lien Waiver is a critical document in Philippine business transactions, particularly in construction and development projects. It serves as a formal release of a supplier's right to claim a lien against a property or project once payment has been received. Under Philippine law, suppliers and contractors have the right to file liens to secure payment for their services or materials, but this right can be waived through proper documentation. The Supplier Lien Waiver provides this documentation, offering protection to property owners and general contractors while ensuring proper payment tracking. The document must comply with Philippine Civil Code requirements and construction industry regulations, including proper notarization. It's commonly used when making progress payments or final payments to suppliers, and can be either conditional (pending payment) or unconditional (after payment is received).
