Conditional Waiver & Release upon Progress Payment

This form is generally used in the construction industry, however it has many other applications. It requires a claimant to some right or sum of money to execute a waiver and release in exchange for a progress payment, but only to the extent of the progress payment. This form ensures that the release is not effective until the bank upon which the funds are drawn actually pays the money owed. This form also limits the waiver and release to certain conditions covered by the progress payment.

Among others this packet includes the following provisions:

• Names of parties: Identifies the parties to the transaction
• Sum paid: Clarifies the money paid for the waiver and release
• Job description: Indicates the job for which the release applies
• Extent of release of claim: Describes the extent to which the waiver applies

This attorney-prepared packet includes:

1. Conditional Waiver & Release upon Progress Payment Information
2. Conditional Waiver & Release upon Progress Payment form

State Law Compliance: Designed for use in all states

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