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identifying information name of claimant: ___ name of customer This Conditional Waiver and Release on Progress Payment form should be used when you are expecting a progress payment for a project

How to fill out conditional waiver progress payment

How to fill out conditional waiver progress payment

1. Obtain the correct conditional waiver progress payment form.
2. Fill out all required fields accurately, including but not limited to: project name, property owner, contractor, payment amount, and date.
3. Sign and date the form in the appropriate sections.
4. Make a copy of the completed form for your records.
5. Submit the original form to the relevant party (usually the property owner or general contractor).

Who needs conditional waiver progress payment?

1. Contractors who have completed a portion of the work on a construction project and are expecting payment for that work.
2. Subcontractors who have completed work on a construction project and are awaiting payment from the general contractor.
3. Suppliers who have provided materials or services for a construction project and are seeking payment for those goods or services.

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What is conditional waiver progress payment?

Conditional waiver progress payment is a document signed by a contractor, subcontractor, or supplier, which acknowledges receiving a payment for work done or materials supplied on a construction project, but retains the right to file a lien if the payment is not received.

Who is required to file conditional waiver progress payment?

Contractors, subcontractors, and suppliers are required to file conditional waiver progress payment.

How to fill out conditional waiver progress payment?

To fill out a conditional waiver progress payment, the party receiving payment must provide their name, the amount of payment received, the date of payment, and a statement indicating that they are waiving their right to file a lien for the specific payment.

What is the purpose of conditional waiver progress payment?

The purpose of conditional waiver progress payment is to acknowledge receipt of payment for work done or materials supplied on a construction project, while also protecting the right to file a lien if the payment is not received.

What information must be reported on conditional waiver progress payment?

The information that must be reported on a conditional waiver progress payment includes the name of the party receiving payment, the amount of payment received, the date of payment, and a statement waiving the right to file a lien.