Nevada Unconditional Waiver and Release Upon Final Payment - Corporation or LLC
Overview of this form
The Unconditional Waiver and Release Upon Final Payment is a legal document designed for corporations or LLCs that have received full payment for all work, materials, and equipment provided to a customer. By using this form, the issuer waives their right to file a lien against the property in question, along with any claims related to payment rights. This form is distinct from conditional waivers, which are used when payments are not yet fully secured.
Form components explained
- Property name and location: Specifies the property associated with the payment.
- Customer information: Identifies the customer involved in the transaction.
- Invoice or payment application number: References the transaction for record-keeping.
- Payment amount: Details the total paid for the services or materials.
- Disputed claims amount: Indicates any claims that may still be unresolved.
- Signature block: Requires signature from an authorized representative of the corporation or LLC.
When this form is needed
This form should be used when a corporation or LLC has completed their work and has been fully compensated. It is particularly relevant in construction or contracting scenarios where the service provider wants to release claims for payment on the project upon receiving the final payment. This helps protect the customer from future claims on the property while ensuring that all subcontractors and suppliers are paid as per the agreement.
Who can use this document
- Corporations or limited liability companies (LLCs) that have completed services.
- Contractors and subcontractors who have received full payment from a client.
- Property owners seeking to clear any liens once all payment obligations are fulfilled.
How to complete this form
- Identify the property by entering the property name and location.
- Fill in the customer's name for accurate identification.
- Input the invoice or payment application number for referencing the transaction.
- State the total payment amount received and specify any amounts related to disputed claims.
- Have an authorized representative sign and date the form to validate it.
- Ensure that all relevant parties receive a copy of the completed document.
Is notarization required?
This document requires notarization to meet legal standards. US Legal Forms provides secure online notarization powered by Notarize, allowing you to complete the process through a verified video call, 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 to avoid
- Failing to include the property details, which can lead to disputes.
- Not specifying any disputed claims, which may cause confusion later.
- Using an outdated version of the form that may not comply with current laws.
- Neglecting to have the appropriate party sign the document.
Benefits of completing this form online
- Convenience: Download and complete the form from anywhere at any time.
- Editability: Easily customize the form to fit specific transaction details.
- Reliability: Ensure compliance with state-specific laws and regulations.
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FAQ
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.
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...
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.
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 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.
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.
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.
