This Conditional Waiver and Release Upon Progress Payment form is for use by an individual lien claimant who is required to execute a waiver and release in exchange for or to induce the payment of a progress billing to provide information, including the property name, the property location and description, the customer, the invoice payment application number, the payment amount, and the payment period. This waiver is effective to release and the lien claimant is considered to waive any notice of lien or right under Utah Code Ann., Title 38, Chapter 1, Mechanics' Liens, or any bond right under Utah Code Ann., Title 14, Contractors' Bonds, or Section 63G-6-505 related to payment rights the lien claimant has on the property once the lien claimant endorses a check in the referenced payment amount payable to the lien claimant, and the check is paid by the depository institution on which it is drawn.
The Provo, Utah Conditional Waiver and Release Upon Progress Payment — Individual is a legal document commonly used in the construction industry. It acts as a protection mechanism for contractors, subcontractors, and suppliers to secure payment for the work they have completed. This conditional waiver and release form is specifically designed for individual parties involved in a construction project in Provo, Utah. It allows individuals to waive their right to file a mechanic's lien or any other legal claims against the property owner or general contractor once they receive a progress payment. By signing this document, an individual acknowledges that they have received a partial payment for the work done, and in return, they agree to waive their rights to file a lien or any other claims up to the amount of the payment received. This waiver is conditional upon the payment being successfully processed by the individual's bank or financial institution. It is important to note that the Provo, Utah Conditional Waiver and Release Upon Progress Payment — Individual can have different variations depending on the specific circumstances. Here are some potential types or situations that may require a different version of the waiver: 1. Conditional Waiver and Release Upon Progress Payment — Individual (Standard): This is the basic form used when an individual receives a progress payment and wishes to waive lien rights in exchange. 2. Conditional Waiver and Release Upon Progress Payment — Individual (Final Payment): This version is used when an individual receives the final payment for all work completed on a project and agrees to waive lien rights upon receipt of that payment. 3. Conditional Waiver and Release Upon Progress Payment — Individual (Partial Release): This variation is used when an individual receives a partial payment but only wishes to waive lien rights related to that specific payment, reserving the right to claim a lien for any remaining amounts. 4. Conditional Waiver and Release Upon Progress Payment — Individual (Joint Check): This form is utilized when an individual receives a progress payment jointly with another party, such as a subcontractor or supplier. It acknowledges that both parties have received their respective portion of the payment and waives lien rights accordingly. These are just a few examples of the potential variations of the Provo, Utah Conditional Waiver and Release Upon Progress Payment — Individual. It is crucial to consult with legal professionals or construction experts to ensure that the correct version of the waiver is utilized in any given situation, adhering to local laws and regulations.The Provo, Utah Conditional Waiver and Release Upon Progress Payment — Individual is a legal document commonly used in the construction industry. It acts as a protection mechanism for contractors, subcontractors, and suppliers to secure payment for the work they have completed. This conditional waiver and release form is specifically designed for individual parties involved in a construction project in Provo, Utah. It allows individuals to waive their right to file a mechanic's lien or any other legal claims against the property owner or general contractor once they receive a progress payment. By signing this document, an individual acknowledges that they have received a partial payment for the work done, and in return, they agree to waive their rights to file a lien or any other claims up to the amount of the payment received. This waiver is conditional upon the payment being successfully processed by the individual's bank or financial institution. It is important to note that the Provo, Utah Conditional Waiver and Release Upon Progress Payment — Individual can have different variations depending on the specific circumstances. Here are some potential types or situations that may require a different version of the waiver: 1. Conditional Waiver and Release Upon Progress Payment — Individual (Standard): This is the basic form used when an individual receives a progress payment and wishes to waive lien rights in exchange. 2. Conditional Waiver and Release Upon Progress Payment — Individual (Final Payment): This version is used when an individual receives the final payment for all work completed on a project and agrees to waive lien rights upon receipt of that payment. 3. Conditional Waiver and Release Upon Progress Payment — Individual (Partial Release): This variation is used when an individual receives a partial payment but only wishes to waive lien rights related to that specific payment, reserving the right to claim a lien for any remaining amounts. 4. Conditional Waiver and Release Upon Progress Payment — Individual (Joint Check): This form is utilized when an individual receives a progress payment jointly with another party, such as a subcontractor or supplier. It acknowledges that both parties have received their respective portion of the payment and waives lien rights accordingly. These are just a few examples of the potential variations of the Provo, Utah Conditional Waiver and Release Upon Progress Payment — Individual. It is crucial to consult with legal professionals or construction experts to ensure that the correct version of the waiver is utilized in any given situation, adhering to local laws and regulations.
