This Conditional Waiver and Release Upon Progress Payment form is for use by an individual or corporation who has been paid and has received a progress payment for labor, services, equipment or material furnished to the sub-contractor or agent on the job of the contractor or general contractor located at the customer's or owner's property, to waive and release any right to a mechanic's lien, stop notice, or any right against a labor and material bond on the job. This release covers a progress payment for labor, services, equipment, or materials furnished to the customer, through a particular date only and does not cover any retentions retained before or after the release date, extras furnished before the release date for which payment has not been received, or extras or items furnished after the release date. Rights based upon work performed or items furnished under a written change order which has been fully executed by the parties prior to the release date are covered by this release unless specifically reserved by the claimant in this release.
Colorado Springs Colorado Conditional Waiver and Release Upon Progress Payment is a legal document used in construction projects to protect the rights and interests of contractors, subcontractors, suppliers, and other parties involved in a project. This waiver acts as a guarantee that these parties will receive payment for the work they have completed. The purpose of the Colorado Springs Conditional Waiver and Release Upon Progress Payment is to document the agreement between the parties involved, ensuring that payments for work completed are made promptly and fairly. It serves as evidence of the payment made and helps reduce disputes and conflicts between parties. Different types of Conditional Waiver and Release Upon Progress Payment in Colorado Springs may include: 1. Conditional Waiver and Release Upon Progress Payment — This waiver is used when a contractor or subcontractor agrees to waive their right to claim a lien against the property upon receiving a progress payment. It is typically used for partial payments throughout the project. 2. Unconditional Waiver and Release Upon Progress Payment — This waiver is similar to the conditional waiver, but it is unconditional, meaning that the contractor or subcontractor agrees to waive their rights to a lien against the property upon receiving payment, regardless of any conditions. 3. Final Conditional Waiver and Release Upon Progress Payment — This waiver is used when the final payment for the project is made. It signifies that the contractor or subcontractor has received the full and final payment for their work and waives their right to claim a lien against the property. 4. Final Unconditional Waiver and Release Upon Progress Payment — Similar to the final conditional waiver, this waiver is used when the final payment is made, but it is unconditional. It means that the contractor or subcontractor waives their rights to a lien upon receiving the final payment, regardless of any conditions. By utilizing the Colorado Springs Colorado Conditional Waiver and Release Upon Progress Payment, all parties involved in construction projects can ensure transparency, fair payment, and minimize potential disputes. It is crucial for contractors, subcontractors, and suppliers to have a thorough understanding of these waivers and their specific conditions before signing them, as it protects their rights and ensures completion of payment.Colorado Springs Colorado Conditional Waiver and Release Upon Progress Payment is a legal document used in construction projects to protect the rights and interests of contractors, subcontractors, suppliers, and other parties involved in a project. This waiver acts as a guarantee that these parties will receive payment for the work they have completed. The purpose of the Colorado Springs Conditional Waiver and Release Upon Progress Payment is to document the agreement between the parties involved, ensuring that payments for work completed are made promptly and fairly. It serves as evidence of the payment made and helps reduce disputes and conflicts between parties. Different types of Conditional Waiver and Release Upon Progress Payment in Colorado Springs may include: 1. Conditional Waiver and Release Upon Progress Payment — This waiver is used when a contractor or subcontractor agrees to waive their right to claim a lien against the property upon receiving a progress payment. It is typically used for partial payments throughout the project. 2. Unconditional Waiver and Release Upon Progress Payment — This waiver is similar to the conditional waiver, but it is unconditional, meaning that the contractor or subcontractor agrees to waive their rights to a lien against the property upon receiving payment, regardless of any conditions. 3. Final Conditional Waiver and Release Upon Progress Payment — This waiver is used when the final payment for the project is made. It signifies that the contractor or subcontractor has received the full and final payment for their work and waives their right to claim a lien against the property. 4. Final Unconditional Waiver and Release Upon Progress Payment — Similar to the final conditional waiver, this waiver is used when the final payment is made, but it is unconditional. It means that the contractor or subcontractor waives their rights to a lien upon receiving the final payment, regardless of any conditions. By utilizing the Colorado Springs Colorado Conditional Waiver and Release Upon Progress Payment, all parties involved in construction projects can ensure transparency, fair payment, and minimize potential disputes. It is crucial for contractors, subcontractors, and suppliers to have a thorough understanding of these waivers and their specific conditions before signing them, as it protects their rights and ensures completion of payment.
