This Conditional Waiver and Release Upon Progress Payment form is for use by an individual upon receipt of a payment to release and waive any notice of lien, any private bond right, any claim for payment and any rights under any similar ordinance, rule or statute related to payment rights that he or she has on certain property. This release covers a progress payment for the work, materials or equipment furnished by the lien claimant to the property or to the lien claimant's customer which are the subject of the invoice or payment application, but only to the extent of the payment amount or such portion of the payment amount as the lien claimant is actually paid, and does not cover any retention withheld, any items, modifications or changes pending approval, disputed items and claims, or items furnished that are not paid. The lien claimant warrants that he or she either has already paid or will use the money he or she receives from this progress payment promptly to pay in full all his or her laborers, subcontractors, materialmen and suppliers for all work, materials or equipment that are the subject of this waiver and release.
Clark Nevada Conditional Waiver and Release Upon Progress Payment — Individual is a legal document used in the construction industry to facilitate the smooth progress of a project and ensure timely payment to contractors or subcontractors. This waiver serves as proof of payment for work completed up to a specific date, offering protection to both the recipient and the payer. Keywords: Clark, Nevada, conditional waiver, release, progress payment, individual, construction industry, contractors, subcontractors, proof of payment. Types of Clark Nevada Conditional Waiver and Release Upon Progress Payment — Individual: 1. Partial Conditional Waiver and Release Upon Progress Payment — Individual: This type of waiver is used when a contractor or subcontractor agrees to release their right to lien for a specific amount of payment received from the payer. It is typically submitted when partial payments are made during the construction project. 2. Final Conditional Waiver and Release Upon Progress Payment — Individual: This waiver is used when the contractor or subcontractor is ready to receive final payment for the completed work. By signing this document, they affirm that they have been paid in full and waive any further claims or liens against the property. 3. Unconditional Conditional Waiver and Release Upon Progress Payment — Individual: Although seemingly contradictory in terminology, this waiver is used when a contractor or subcontractor agrees to release their right to lien even before receiving payment. It is usually employed when there is a high level of trust between the parties or as a condition for future work opportunities. 4. Conditional Waiver and Release Upon Progress Payment — Individual With Exceptions: This type of waiver is used when a contractor or subcontractor agrees to release their right to lien for a specific amount, excluding certain items or services. It establishes that the individual has been partially paid but retains a claim or lien for the excluded items until those payments are made. It is essential for both contractors and subcontractors to understand the specific type of waiver they are signing to ensure their rights and financial interests are protected while maintaining a professional working relationship with the project's stakeholders. Furthermore, it is always advisable to consult with a legal professional before signing any legal document.
Clark Nevada Conditional Waiver and Release Upon Progress Payment — Individual is a legal document used in the construction industry to facilitate the smooth progress of a project and ensure timely payment to contractors or subcontractors. This waiver serves as proof of payment for work completed up to a specific date, offering protection to both the recipient and the payer. Keywords: Clark, Nevada, conditional waiver, release, progress payment, individual, construction industry, contractors, subcontractors, proof of payment. Types of Clark Nevada Conditional Waiver and Release Upon Progress Payment — Individual: 1. Partial Conditional Waiver and Release Upon Progress Payment — Individual: This type of waiver is used when a contractor or subcontractor agrees to release their right to lien for a specific amount of payment received from the payer. It is typically submitted when partial payments are made during the construction project. 2. Final Conditional Waiver and Release Upon Progress Payment — Individual: This waiver is used when the contractor or subcontractor is ready to receive final payment for the completed work. By signing this document, they affirm that they have been paid in full and waive any further claims or liens against the property. 3. Unconditional Conditional Waiver and Release Upon Progress Payment — Individual: Although seemingly contradictory in terminology, this waiver is used when a contractor or subcontractor agrees to release their right to lien even before receiving payment. It is usually employed when there is a high level of trust between the parties or as a condition for future work opportunities. 4. Conditional Waiver and Release Upon Progress Payment — Individual With Exceptions: This type of waiver is used when a contractor or subcontractor agrees to release their right to lien for a specific amount, excluding certain items or services. It establishes that the individual has been partially paid but retains a claim or lien for the excluded items until those payments are made. It is essential for both contractors and subcontractors to understand the specific type of waiver they are signing to ensure their rights and financial interests are protected while maintaining a professional working relationship with the project's stakeholders. Furthermore, it is always advisable to consult with a legal professional before signing any legal document.
