[Code of Federal Regulations] [Title 48, Volume 5] [Revised as of October 1, 2006] From the U.S. Government Printing Office via GPO Access [CITE: 48CFR871.106] [Page 261] TITLE 48--FEDERAL ACQUISITION REGULATIONS SYSTEM CHAPTER 8--DEPARTMENT OF VETERANS AFFAIRS PART 871_LOAN GUARANTY AND VOCATIONAL REHABILITATION AND COUNSELING PROGRAMS--Table of Contents Subpart 871.1_Loan Guaranty Program Sec. 871.106 Lien waivers. (a) Contracts in the amount of $2,500 or more will contain a requirement that the contractor will sign a formal release in full or a lien waiver before payment may be made. The release or waiver will accompany the contractor's invoice. (b) Contractors will be required to notify the Director, Regional Office, of any subcontractors for services or materials in excess of $2,500. Such subcontractors will be required to sign the release or waiver jointly with the prime contractor or to execute release or waiver in the subcontractor's own name. (c) Prior to any authorized partial payment the contractor will be required to execute a release or waiver. (d) Due to the variations of local law, no standard release or waiver is prescribed. Each release or waiver will be prepared in accordance with local law and will be in form acceptable by the District Counsel. [49FR 12641, Mar. 29, 1984, as amended at 61 FR 20494, May 7, 1996]