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CONDITIONAL WAIVER AND RELEASE ON PROGRESS PAYMENT (Send requests, with completed form(s), to lienwaivers@oldcastle.com)NOTICE: THIS DOCUMENT WAIVES THE CLAIMANT\'S LIEN, STOP PAYMENT NOTICE, AND
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How to fill out conditional waiver and release
How to fill out conditional waiver and release
01
Obtain the correct conditional waiver and release form.
02
Fill in your personal information such as name, address, and contact details.
03
Identify the party you are releasing claims against, including their name and contact information.
04
Clearly write down the specific conditions that must be met for the waiver to become valid.
05
Sign and date the form in the presence of a notary or witness, if required.
06
Make copies of the completed form for your records.
Who needs conditional waiver and release?
01
Individuals involved in potential legal disputes.
02
Contractors or service providers working on projects with potential risks.
03
Property owners hosting events or allowing activities on their premises.
04
Any party looking to protect themselves from liability claims.
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What is conditional waiver and release?
Conditional waiver and release is a legal document used in construction projects to waive the right to file a mechanics lien or bond claim upon the receipt of payment, under the condition that the payment is actually received and clears.
Who is required to file conditional waiver and release?
Contractors, subcontractors, and suppliers involved in construction projects are typically required to file conditional waiver and release forms.
How to fill out conditional waiver and release?
Conditional waiver and release forms should be filled out with specific project information, payment details, and signatures of all relevant parties.
What is the purpose of conditional waiver and release?
The purpose of conditional waiver and release is to ensure that parties are paid for their work on a construction project, while also providing protection for property owners and general contractors against potential lien claims.
What information must be reported on conditional waiver and release?
Conditional waiver and release forms typically require details such as project name, property owner, contractor, payment amount, and date of payment.
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