A lien waiver is the document a subcontractor or supplier signs to relinquish their right to place a mechanic's lien on the property, in exchange for (or upon receipt of) payment. Waivers come in conditional and unconditional forms, for progress and final payments.
Collecting lien waivers is a payment gatekeeping step: owners and lenders won't release funds without them, and a GC won't pay a sub's next draw until the prior waiver is in hand. A missing lien waiver is one of the most common reasons a payment gets held — which is why chasing them is a routine part of the job.