Fontana California Conditional Waiver and Release Upon Progress Payment

• Category: California Liens - Construction - Mechanics
• State: California
• City: Fontana
• Control #: CA-LIEN-3
• Format: Word; Rich Text

Description

Conditional Waiver and Release Upon Progress Payment: This is a notice to an owner by the contractor detailing that he/ she has the right to place a lien on a particular piece of property. This lien would be placed on the property if said owner does not comply with all payment arrangements.

A Fontana California Conditional Waiver and Release Upon Progress Payment is a legal document that protects contractors, subcontractors, and suppliers involved in construction projects in Fontana, California. This waiver and release serves as an agreement between the party performing the work (the claimant) and the party responsible for payment (the owner or general contractor). It ensures payment upon completion of certain project milestones or stages. The purpose of the Fontana California Conditional Waiver and Release Upon Progress Payment is to provide assurance that the claimant will release their right to file a mechanic's lien or claim against the property after receiving progress payment. It establishes a mutual understanding that payment has been received for the work completed up to a specific point. Keywords: Fontana California, conditional waiver and release, progress payment, construction projects, contractor, subcontractor, supplier, claimant, owner, general contractor, mechanic's lien, claim, property, mutual understanding. In Fontana, there are different types of Conditional Waiver and Release Upon Progress Payment, which include: 1. Conditional Waiver and Release Upon Progress Payment — Partial: This type of waiver and release applies when a partial payment is made by the owner or general contractor. It signifies that the claimant acknowledges receiving payment for the work completed until that specific point, but still retains the right to claim for payment due for the remaining work. 2. Conditional Waiver and Release Upon Progress Payment — Final: This waiver and release is used when the final payment is made for the completed project. It confirms that the claimant has received the full and final payment and relinquishes any further rights to claim or file a mechanic's lien against the property. 3. Conditional Waiver and Release Upon Progress Payment — Up to a Specific Date: This type of waiver and release applies to a specific period or date, indicating the payment received until that particular point. It allows the claimant to assert their right to claim for payment beyond the specified date if not paid appropriately. It is important for all parties involved in a construction project in Fontana, California, to understand the specific type of Conditional Waiver and Release Upon Progress Payment being used. This ensures transparency, protects the interests of both parties, and facilitates smooth payment transactions throughout the project.

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