What type of lien release is provided when payment is contingent upon receipt for goods delivered?

A conditional lien release is used in situations where payment to a contractor or supplier is dependent upon certain criteria being met, in this case, the receipt of goods that have been delivered. This type of release protects the interests of both the contractor and the property owner by stipulating that the lien will only be released once the specified conditions—such as the acknowledgment of goods delivered—are satisfied.

This ensures that the contractor or supplier will not be at risk of non-payment after providing goods or services, while also giving the property owner assurance that they are only paying for what they have actually received. This clarity can help prevent disputes and misunderstandings regarding payment for services rendered.

The other choices represent different types of lien releases that do not specifically address the conditional nature of payment based on receipt of goods. Voluntary releases occur when a creditor chooses to release a lien, final releases denote the completion of services or payment in full, and retaining typically refers to the practice of keeping a portion of payment until final completion, and does not describe a specific condition for release.