Waiver and Release Upon Final Payment (GA)


Summary

This waiver and release upon final payment (Final Waiver) may be given by a lien claimant in Georgia at the request of either the owner or contractor in exchange for or in order to induce final payment. While payment in full is required before a waiver of lien rights is effective, under Georgia law, the amount set forth in a waiver and release will be conclusively deemed to have been made 60 days after the date of execution of the Final Waiver unless either a claim of lien or an affidavit of nonpayment has been recorded prior to the expiration of the 60 day period. Unless a claim of lien or affidavit of nonpayment is recorded prior to the end of 60 days, lien rights to the amount in the Final Waiver will be lost. To be effective, this Final Waiver must be in boldface capital letters in at least 12 point font and substantially follow the form set out in O.C.G.A. § 44-14-366.