Nevada Unconditional Waiver and Release Upon Progress Payment - Corporation or LLC
Overview of this form
The Unconditional Waiver and Release Upon Progress Payment is a legal document designed for corporations or LLCs that have received a progress payment for work, materials, or equipment provided to a customer. This form allows the recipient to waive and release any claims or liens against the property related to that payment. Unlike other waiver forms, this document is unconditional, meaning it does not depend on further conditions being met for its validity.
Main sections of this form
- Property Name: The official designation of the property involved.
- Property Location: The physical address of the property.
- Customer Information: Details about the customer receiving the services or materials.
- Invoice/Payment Application Number: Reference for tracking the transaction.
- Payment Amount: The total amount received for the work completed.
- Undersigned's Warranty: Assurance that all subcontractors and suppliers will be paid using the received funds.
When to use this form
This form is typically used when a corporation or LLC has completed part of a contract and has received a progress payment. It releases any future claims or liens the business may have on the property in exchange for the payment received. It's critical to use this form only when payment has been completed to avoid waiving rights unnecessarily.
Who needs this form
- Corporations or LLCs engaged in construction projects.
- Contractors who have been paid for services rendered.
- Subcontractors or suppliers looking to waive liens on properties after receiving payments.
Completing this form step by step
- Identify the property by entering the Property Name and Location.
- Fill in the customer's information, including their name and associated invoice number.
- Specify the Payment Amount received for the services or materials.
- Sign and date the document, ensuring it is completed by an authorized party.
- Optionally, have the document notarized to enhance its legal 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.
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Make edits, fill in missing information, and update formatting in US Legal Forms—just like you would in MS Word.
Download a copy, print it, send it by email, or mail it via USPS—whatever works best for your next step.
Sign and collect signatures with our SignNow integration. Send to multiple recipients, set reminders, and more. Go Premium to unlock E-Sign.
If this form requires notarization, complete it online through a secure video call—no need to meet a notary in person or wait for an appointment.
We protect your documents and personal data by following strict security and privacy standards.
Common mistakes
- Failing to fill in all relevant fields, leading to an incomplete form.
- Using this form without having received payment.
- Not informing subcontractors or suppliers about the waiver, which can lead to unpaid bills.
Why use this form online
- Immediate access to a legally vetted document created by licensed attorneys.
- Convenient download and print options.
- Editability allows for customization to meet specific company needs.
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FAQ
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 Waiver and Release Upon Progress Payment" discharges all claimant rights through a specific date with no stipulations. 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.
Name of Claimant. This is the name the party to be paid, and the party who will be signing the lien waiver document. Name of Customer. Job Location. Owner. Exceptions. Claimant's Signature. Claimant's Title. Date of Signature.
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.
An "Unconditional Waiver and Release Upon Final Payment" extinguishes all claimant rights upon receipt of the payment. A "Conditional Waiver and Release Upon Final Payment" extinguishes all claimant rights upon receipt of the final payment with certain provisions.
An unconditional release means that there are no restrictions on the release of the lien. This type of lien release is often used in final project documents to confirm that the project is complete, payment has occurred, and you release all future rights to file liens on the project.
Name of Claimant. This is the name the party to be paid, and the party who will be signing the lien waiver document. Name of Customer. Job Location. Owner. Exceptions. Claimant's Signature. Claimant's Title. Date of Signature.
An unconditional mechanic's lien waiver states the contractor has in fact been paid in full for the stated work. Write the name of the maker of the check in the space provided on the mechanic's lien release form. Fill in the amount of the payment. Write the name of contractor the payment is being made to.