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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Unconditional Waiver / Release Form Upon Progress/Partial Payment – Part 3

Unconditional Waiver / Release Form Upon Progress/Partial Payment – Part 3

Customers & Accounts Receivable, From Our Guest Bloggers
You’ve successfully collected your progress payment and now it’s time to provide your customer with an “Unconditional Waiver and Release Upon Progress Payment” form (#2 release). If you have suppliers include the same forms from them. The #2 release is unconditional which means you’re giving up all lien rights through the “release through date”. Never issue a #2 release form unless you have been successfully paid for that time frame.  If you do even though you haven’t been paid the courts may not side with you because unconditional is unconditional – it’s final. State Requirements For Waiver / Release Forms Each state has specific requirements for release forms. Some states change their laws often (California had three changes to the same lien law in 2004, and then in 2011 and…
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