Conditional Waiver And Release On Progress Payment Instructions
What is conditional waiver and release on progress payment instructions?
A conditional waiver and release on progress payment instructions is a legal document that allows a contractor or subcontractor to waive their rights to a lien on a property in exchange for payment. It is an agreement between the contractor or subcontractor and the property owner or general contractor, stating that they have received partial payment and therefore waive their right to file a lien for the amount received. This document ensures transparency and streamlines the payment process in construction projects.
What are the types of conditional waiver and release on progress payment instructions?
There are two types of conditional waiver and release on progress payment instructions:
How to complete conditional waiver and release on progress payment instructions
To complete a conditional waiver and release on progress payment instructions, follow these steps:
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