Utah Conditional Waiver and Release Upon Progress Payment - Individual
What this document covers
The Conditional Waiver and Release Upon Progress Payment form is essential for individuals who are lien claimants in the construction industry. This form allows an individual to waive their right to a lien on a property in exchange for receiving a progress payment. Unlike other waiver forms, this one is specific to progress payments and includes critical details such as the property description and the payment amount. It is designed to protect both the claimant and the property owner by ensuring that payments are made transparently and legally.
What’s included in this form
- Identification details: Name, company, address, and contact information of the lien claimant.
- Property details: Name, location, and description of the property related to the payment.
- Invoice and payment details: Includes the customer name, invoice number, payment amount, and payment period.
- Waiver clause: A statement where the claimant waives the right to any lien once the payment has been received.
- Signature section: Provides space for the claimant to sign, affirming the completion and accuracy of the details.
- Acknowledgment section: For notarization to confirm the identity of the signer.
Common use cases
This form should be used when an individual provides labor, materials, or equipment and is seeking a progress payment. It is applicable in situations where the individual must demonstrate that they relinquish their lien rights against the property in exchange for this payment. You may need this form during project milestones when payment is requested based on work completed thus far.
Who should use this form
- Individuals who are subcontractors, suppliers, or laborers working on a construction project.
- Those looking to formalize the waiver of lien rights in exchange for specific payments.
- Contractors or service providers who wish to maintain clear records of payments and lien waivers.
How to complete this form
- Identify the parties involved: Fill in your name, company, and contact information.
- Specify the property: Provide the name, location, and a detailed description of the property.
- Enter payment details: Complete the customer name, invoice number, payment amount, and corresponding payment period.
- Sign the form: Affix your signature and print your name clearly to affirm the waiver.
- Complete the acknowledgment section: If required, have your signature notarized to enhance the document's validity.
Notarization guidance
Notarization is required for this form to take effect. Our online notarization service, powered by Notarize, lets you verify and sign documents remotely through an encrypted video session, available 24/7.
Mistakes to watch out for
- Failing to provide complete property details or payment information can invalidate the form.
- Not securing a notarization when required may lead to complications in enforcement.
- Missing signatures or incomplete acknowledgment sections will render the form ineffective.
Benefits of completing this form online
- Convenient access: Download the form anytime and from anywhere.
- Editable format: Easily fill in the necessary information without hassle.
- Reliability: Forms created by licensed attorneys ensure compliance with legal standards.
Form popularity
FAQ
LIen waivers are not required to be notarized. The primary times that a document needs to be notarized is if it is going to be filed with the county recorder or it is an affidavit. There are some other documents that often use notarization, but lien...
A waiver is a legally binding provision where either party in a contract agrees to voluntarily forfeit a claim without the other party being liable.Examples of waivers include the waiving of parental rights, waiving liability, tangible goods waivers, and waiver for grounds of inadmissibility.
An unconditional partial waiver should be used when you have received a progress payment on the project. You may be expecting future payments on the project, but are looking to sign a waiver for a specific progress or partial payment that you are receiving.
Conditional lien waivers are conditioned upon something (typically the receipt of payment).The party receiving payment maintains its right to file a lien until the check is actually cashed; the party making payment will never face double payment (paying the party they hired and also being faced with a lien).
Conditional lien waivers are provided by contractors or suppliers before they've been paid. The key language to look for in these documents is upon payment of an amount, the vendor releases their right to file a lien on the work provided up until a certain date.
Signing an unconditional lien waiver is enforceable even before you get paid. This means that if you sign an unconditional lien waiver before receiving the money and the property owner ends up not paying up, you have already waived your lien rights because you signed the unconditional lien waiver.
A "Conditional Waiver and Release Upon Progress Payment" discharges all claimant rights through a specific date, provided the payments have actually been received and processed. An "Unconditional Waiver and Release Upon Final Payment" extinguishes all claimant rights upon receipt of the payment.
To waive a charge means to agree that it will not be charged.
Conditional Waiver for Progress or Partial Payment A partial conditional waiver should be used when you are expecting to receive a progress payment on the project. You may be expecting future payments on the project, but are looking to sign a waiver for a specific progress or partial payment that you are receiving.