This Unconditional Waiver and Release Upon Final Payment form is for use by an individual or corporation who has been paid in full for all labor, services, equipment or material furnished to the sub-contractor or agent on the job of the contractor or general contractor located at the customer's or owner's property, to waive and release any right to a mechanic's lien, stop notice, or any right against a labor and material bond on the job. This release covers the final payment for all labor, services, equipment, or material furnished to the customer through a specific date only and does not cover any retentions retained before or after the release date, extras furnished before the release date for which payment has not been received or extras or items furnished after the release date. Rights based upon work performed or items furnished under a written change order which has been fully executed by the parties prior to the release date are covered by this release unless specifically reserved by the claimant in this release.
Description: A Lakewood Colorado Unconditional Waiver and Release Upon Final Payment is a legal document used in the construction industry to protect contractors and subcontractors when they have received full payment for their services or materials. By signing this waiver, the contractor or subcontractor effectively releases any and all rights to pursue further payment or liability claims against the property owner, general contractor, or any other parties involved in the project. This waiver serves as a formal acknowledgment that the contractor or subcontractor has received the full and final payment owed to them for their work or materials. It is a crucial step in properly closing out a construction project and ensuring all financial obligations are met. By signing this document, the contractor or subcontractor is relinquishing their right to later place a lien on the property or take legal action to recover additional payment. The Lakewood Colorado Unconditional Waiver and Release Upon Final Payment may vary slightly depending on the specific circumstances or parties involved. Different types of waivers within this category may include: 1. Unconditional Waiver and Release Upon Final Payment for General Contractors: This waiver is used when the general contractor has received full payment from the property owner or project developer and acknowledges that all outstanding financial obligations have been satisfied. 2. Unconditional Waiver and Release Upon Final Payment for Subcontractors: This type of waiver is applicable to subcontractors and is signed when they have received full payment from the general contractor or higher-tier subcontractor for their completed work. 3. Unconditional Waiver and Release Upon Final Payment for Suppliers: Suppliers of materials, equipment, or services to a construction project may utilize this waiver once they have received full payment from the general contractor or subcontractor. It is important for all parties involved in a construction project to carefully review and understand the terms and conditions outlined in the Lakewood Colorado Unconditional Waiver and Release Upon Final Payment before signing. This document ensures that all financial obligations have been met and protects the interests of contractors, subcontractors, and property owners involved in the project.Description: A Lakewood Colorado Unconditional Waiver and Release Upon Final Payment is a legal document used in the construction industry to protect contractors and subcontractors when they have received full payment for their services or materials. By signing this waiver, the contractor or subcontractor effectively releases any and all rights to pursue further payment or liability claims against the property owner, general contractor, or any other parties involved in the project. This waiver serves as a formal acknowledgment that the contractor or subcontractor has received the full and final payment owed to them for their work or materials. It is a crucial step in properly closing out a construction project and ensuring all financial obligations are met. By signing this document, the contractor or subcontractor is relinquishing their right to later place a lien on the property or take legal action to recover additional payment. The Lakewood Colorado Unconditional Waiver and Release Upon Final Payment may vary slightly depending on the specific circumstances or parties involved. Different types of waivers within this category may include: 1. Unconditional Waiver and Release Upon Final Payment for General Contractors: This waiver is used when the general contractor has received full payment from the property owner or project developer and acknowledges that all outstanding financial obligations have been satisfied. 2. Unconditional Waiver and Release Upon Final Payment for Subcontractors: This type of waiver is applicable to subcontractors and is signed when they have received full payment from the general contractor or higher-tier subcontractor for their completed work. 3. Unconditional Waiver and Release Upon Final Payment for Suppliers: Suppliers of materials, equipment, or services to a construction project may utilize this waiver once they have received full payment from the general contractor or subcontractor. It is important for all parties involved in a construction project to carefully review and understand the terms and conditions outlined in the Lakewood Colorado Unconditional Waiver and Release Upon Final Payment before signing. This document ensures that all financial obligations have been met and protects the interests of contractors, subcontractors, and property owners involved in the project.
