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This document is an unconditional waiver for progress payment relating to construction services in Bastrop, TX, ensuring rights are waived for all labor and materials provided.
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What is unconditional waiver for progress?
An unconditional waiver for progress is a legal document that allows a contractor or subcontractor to waive their right to make a claim for payment or a lien against a property for work performed up to a certain point in a construction project, acknowledging receipt of payment for that work.
Who is required to file unconditional waiver for progress?
Generally, subcontractors and suppliers who have completed work and have received payment are required to file an unconditional waiver for progress to confirm they will not pursue any further claims for payment up to the point covered by the waiver.
How to fill out unconditional waiver for progress?
To fill out an unconditional waiver for progress, include the project name, the amount paid, the date of the payment, a statement acknowledging receipt of payment, and the signatures of the involved parties, confirming that the waiver is valid.
What is the purpose of unconditional waiver for progress?
The purpose of an unconditional waiver for progress is to provide legal protection to property owners and general contractors by ensuring that subcontractors and suppliers cannot later claim unpaid amounts for work represented in the waiver.
What information must be reported on unconditional waiver for progress?
The information that must be reported includes the names of the parties involved, project information, the amount paid, the date of the payment, and a clear statement waiving the right to make further claims for the specified work.
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