The Conditional Waiver Release Form is a crucial document in U.S. construction law that protects both parties in a construction payment scenario. It is typically used when one party is making a payment to another in exchange for a waiver of lien rights, but the waiver only becomes effective when payment is actually received. This document is particularly important in multi-tiered construction projects where various contractors, subcontractors, and suppliers need to provide assurance that they won't file liens after receiving payment. The form must comply with state-specific requirements and often includes details about the project, payment amount, and specific rights being waived.
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1. Identification of Parties: Details of the waiving party and the party receiving the waiver
2. Project Information: Specific details about the project, including location and scope
3. Payment Amount: Specific amount being paid in exchange for the waiver
4. Conditional Terms: Specific conditions that must be met for the waiver to become effective
5. Rights Being Waived: Explicit description of the rights being waived
6. Signature Block: Space for signatures, dates, and notarization if required
1. Through Date: Specific date through which rights are being waived - used when waiver covers work through a specific date
2. Exceptions: List of specific claims or rights not being waived - used when certain rights need to be preserved
3. Additional Certifications: Additional statements certifying payment to subcontractors - used when required by state law or contract
1. Schedule A - Project Description: Detailed description of the project and work performed
2. Schedule B - Payment Details: Breakdown of payment amounts and work covered
3. Schedule C - Outstanding Claims: List of any preserved claims or exceptions to the waiver
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