The Full Unconditional Lien Waiver is a critical document in Nigerian construction and development projects, used when a contractor, subcontractor, or supplier has received full payment for their work or materials and is willing to permanently waive their right to file a lien against the property. Unlike conditional waivers, this unconditional version takes effect immediately upon execution, regardless of future events. The document is particularly important in Nigerian property transactions as it helps ensure clear property titles and facilitates project closings. It typically includes detailed information about the project, parties involved, payment received, and specific rights being waived. This type of waiver is commonly required by property owners, developers, and financial institutions as part of their risk management and project completion procedures.
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1. Parties: Identification of the Lien Holder (contractor, subcontractor, or supplier) and the Property Owner/General Contractor
2. Background: Context of the original contract, work performed, and the basis for the lien rights being waived
3. Definitions: Key terms used in the waiver including 'Project', 'Property', 'Contract', 'Lien Rights', and 'Payment Amount'
4. Acknowledgment of Payment: Confirmation of receipt of payment and the specific amount received
5. Waiver and Release: Unconditional waiver of all lien rights related to the work performed and materials supplied
6. Representation and Warranties: Statements confirming authority to execute the waiver and that all laborers and suppliers have been paid
7. Governing Law: Specification that Nigerian law governs the waiver
8. Execution: Signature blocks, notarization requirements, and date of execution
1. Prior Lien Rights: Section addressing any existing recorded liens that need to be specifically released
2. Indemnification: Additional provisions where the lien holder agrees to indemnify the property owner against future claims
3. Subcontractor Confirmation: Section for additional confirmation from subcontractors if the waiver is being given by a general contractor
4. Surviving Claims: Section specifying any claims or rights that survive the waiver, if applicable
5. Notice Provisions: Required when there are specific notice requirements for future communications
1. Schedule A - Property Description: Legal description of the property subject to the lien waiver
2. Schedule B - Payment Details: Detailed breakdown of payments received and work performed
3. Schedule C - Project Scope: Description of the work or materials provided under the original contract
4. Appendix 1 - Supporting Documents: Copies of relevant invoices, payment proof, and original contract references
5. Appendix 2 - Authorization Documents: Corporate resolutions or power of attorney documents proving authority to execute the waiver
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