Unconditional Waiver And Release On Progress Payment

Unconditional Waiver And Release On Progress Payment Template for Germany

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Key Requirements PROMPT example:

"I need an Unconditional Waiver and Release on Progress Payment for our Berlin office construction project, specifically for the €250,000 progress payment scheduled for March 2025, which will be issued to our main contractor ABC Construction GmbH."

Document background

The Unconditional Waiver And Release On Progress Payment is a critical document in German construction and development projects, used when a contractor, subcontractor, or supplier receives a progress payment and needs to provide formal confirmation of payment receipt and waiver of related claims. The document becomes effective immediately upon execution, unlike conditional waivers that depend on future events. It typically includes specific details about the payment received, the scope of work covered, and the exact rights being waived. Under German law, particularly the BGB (Bürgerliches Gesetzbuch), such waivers must be clear and unambiguous, with precise documentation of the payment received and rights waived. This document is commonly used in phases throughout a project's lifecycle whenever progress payments are made, helping to maintain clear payment records and prevent future disputes.

Suggested Sections

1. Parties: Identification of the party giving the waiver (typically contractor/supplier) and the party receiving the waiver (typically project owner/general contractor)

2. Background: Brief context about the project, reference to the main contract, and the progress payment that this waiver relates to

3. Definitions: Key terms used in the waiver, including 'Progress Payment', 'Project', 'Contract', and 'Waiver Period'

4. Payment Acknowledgment: Explicit acknowledgment of the receipt of the specific progress payment, including amount and payment date

5. Waiver and Release: Core waiver language releasing rights, claims, and liens related to the work covered by the progress payment

6. Scope of Waiver: Clear delineation of what work and time period is covered by the waiver

7. Representations and Warranties: Confirming authority to execute the waiver and that all subcontractors and suppliers have been paid

8. Governing Law: Specification that German law governs the waiver and its interpretation

9. Execution: Signature blocks and execution requirements

Optional Sections

1. Exceptions to Waiver: Used when certain claims or rights need to be specifically preserved despite the waiver

2. Subcontractor Confirmation: Include when there are significant subcontractor relationships and additional confirmation of their payment status is required

3. Notarization: Include when formal notarization is required for the specific project or jurisdiction

4. Conditional Provisions: Used when certain aspects of the waiver are conditional upon specific events or actions

5. Translation Certificate: Include when the document needs to be certified in multiple languages

6. Previous Payments Confirmation: Used when there's a need to confirm the status of all previous progress payments

Suggested Schedules

1. Schedule A - Payment Details: Detailed breakdown of the progress payment being acknowledged, including any adjustments or deductions

2. Schedule B - Work Description: Detailed description of the work completed that corresponds to this progress payment

3. Schedule C - Project Information: Specific project details including location, contract numbers, and relevant dates

4. Appendix 1 - Supporting Documents: Copies of relevant invoices, payment confirmations, or other supporting documentation

5. Appendix 2 - Authorization Documents: If applicable, documents proving authority to execute the waiver

Authors

Alex Denne

Head of Growth (Open Source Law) @ ��Ƶ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

alex.den.21@genieai.co

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Relevant Teams

Legal

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Project Manager

Construction Manager

Contract Administrator

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Finance Director

Chief Financial Officer

Project Director

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Procurement Manager

Operations Director

Commercial Manager

Risk Manager

Claims Manager

Account Manager

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Let's create your Unconditional Waiver And Release On Progress Payment

Authors

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