Unconditional Lien Waiver
A lien waiver that takes effect immediately upon signing, regardless of whether payment has been received.
An Unconditional Lien Waiver waives lien rights immediately and irrevocably upon execution. It is not contingent on the receipt of payment. Because of this, unconditional waivers should only be signed after payment has been verified.
GCs typically collect unconditional waivers for the previous period's payment along with the current period's conditional waiver. This creates a rolling chain of confirmed payments and waived lien rights.