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 West Valley City Utah Conditional Waiver and Release Upon Progress Payment — Individual is a legal document used in construction projects to ensure timely and mutually beneficial payment arrangements. This waiver serves as a confirmation from an individual contractor or subcontractor that they have received a partial payment for the work completed and relinquishes their right to file a lien against the property owner. The main purpose of the West Valley City Utah Conditional Waiver and Release Upon Progress Payment — Individual is to protect all parties involved in a construction project. By signing this document, the individual contractor or subcontractor acknowledges the receipt of a partial payment corresponding to the work performed up to a specific date or milestone. This demonstrates a mutual agreement between the parties, eliminating the possibility of any legal disputes or complications in the future. Key terms and phrases related to West Valley City Utah Conditional Waiver and Release Upon Progress Payment — Individual: 1. West Valley City: This refers to the specific city in Utah where the construction project takes place, indicating the jurisdiction under which the waiver operates. 2. Conditional Waiver and Release: This document acts as a conditional waiver, stating that the contractor or subcontractor is waiving their right to file a lien against the property owner upon receiving a partial payment. 3. Progress Payment: It refers to a partial payment made by the property owner or general contractor to the individual contractor or subcontractor for the work completed up to a defined date or milestone. 4. Individual: The waiver is designed for use by individual contractors or subcontractors who are not part of a larger company or organization. Types of West Valley City Utah Conditional Waiver and Release Upon Progress Payment — Individual: 1. Standard Waiver: This is the most common type of waiver and is used when all parties involved have mutually agreed upon the payment terms and progress milestones. 2. Notarized Waiver: In some cases, parties may require a notarized waiver to add an extra layer of authenticity and legality to the document. 3. Conditional on Check Clearance: This type of waiver specifies that the release and waiver are only effective when the associated payment check has been fully cleared by the bank. 4. Conditional on Valid Payment: This waiver type ensures that the lien rights are waived only upon receiving a valid payment, protecting the individual contractor or subcontractor from potential fraudulent or insufficient payments. It is important to note that while this description provides an overview of West Valley City Utah Conditional Waiver and Release Upon Progress Payment — Individual, it is essential to consult with a legal professional to understand the specific requirements and nuances of this document in West Valley City, Utah.The West Valley City Utah Conditional Waiver and Release Upon Progress Payment — Individual is a legal document used in construction projects to ensure timely and mutually beneficial payment arrangements. This waiver serves as a confirmation from an individual contractor or subcontractor that they have received a partial payment for the work completed and relinquishes their right to file a lien against the property owner. The main purpose of the West Valley City Utah Conditional Waiver and Release Upon Progress Payment — Individual is to protect all parties involved in a construction project. By signing this document, the individual contractor or subcontractor acknowledges the receipt of a partial payment corresponding to the work performed up to a specific date or milestone. This demonstrates a mutual agreement between the parties, eliminating the possibility of any legal disputes or complications in the future. Key terms and phrases related to West Valley City Utah Conditional Waiver and Release Upon Progress Payment — Individual: 1. West Valley City: This refers to the specific city in Utah where the construction project takes place, indicating the jurisdiction under which the waiver operates. 2. Conditional Waiver and Release: This document acts as a conditional waiver, stating that the contractor or subcontractor is waiving their right to file a lien against the property owner upon receiving a partial payment. 3. Progress Payment: It refers to a partial payment made by the property owner or general contractor to the individual contractor or subcontractor for the work completed up to a defined date or milestone. 4. Individual: The waiver is designed for use by individual contractors or subcontractors who are not part of a larger company or organization. Types of West Valley City Utah Conditional Waiver and Release Upon Progress Payment — Individual: 1. Standard Waiver: This is the most common type of waiver and is used when all parties involved have mutually agreed upon the payment terms and progress milestones. 2. Notarized Waiver: In some cases, parties may require a notarized waiver to add an extra layer of authenticity and legality to the document. 3. Conditional on Check Clearance: This type of waiver specifies that the release and waiver are only effective when the associated payment check has been fully cleared by the bank. 4. Conditional on Valid Payment: This waiver type ensures that the lien rights are waived only upon receiving a valid payment, protecting the individual contractor or subcontractor from potential fraudulent or insufficient payments. It is important to note that while this description provides an overview of West Valley City Utah Conditional Waiver and Release Upon Progress Payment — Individual, it is essential to consult with a legal professional to understand the specific requirements and nuances of this document in West Valley City, Utah.
