Unconditional Waiver And Release Upon Progress Payment
What is unconditional waiver and release upon progress payment?
An unconditional waiver and release upon progress payment is a legal document that is used in the construction industry. It is a contractual agreement between the contractor and the owner of the project, where the contractor agrees to release any rights to a lien on the property in exchange for payment for work completed. This document is typically used to provide assurance to the owner that the contractor will not file a lien against the property for any outstanding payments due to them.
What are the types of unconditional waiver and release upon progress payment?
There are four types of unconditional waiver and release upon progress payment:
How to complete unconditional waiver and release upon progress payment
Completing an unconditional waiver and release upon progress payment involves the following steps:
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