Unconditional Waiver / Release Upon Final Payment – Part 5

Unconditional Waiver / Release Upon Final Payment – Part 5

Customers & Accounts Receivable, From Our Guest Bloggers
Once you’ve successfully collected your final payment it’s time to give your customer an “Unconditional Waiver and Release Upon Final Payment” form (#4 release). This release form will not include a “release through date” because it’s the final payment – it releases your lien rights, stop payment rights, etc. for the entire project. If you have suppliers include the same forms from them. Never issue a #4 release form unless you have been successfully paid in full for the entire project.  If you do even though you haven’t been paid and you didn’t allow for the exceptions then the courts wouldn’t side with you because unconditional is unconditional – it’s final. State Requirements For Waiver / Release Forms Each state has specific requirements for release forms, although many states do…
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