Unconditional Waiver and Release on Progress Payment

An Unconditional Waiver and Release on Progress Payment is a formal document prepared by one party and presented to the other party with the promise not to pursue any legal action if provided with compensation for products already delivered and services already rendered. When you negotiate a progress payment, it means the other party will receive installments either when different stages of the project are completed or after the services have been provided in full. It is up to the claimant to agree to progress payment instead of suing the other party.

Download an Unconditional Waiver and Release on Progress Payment template through the link below.

How to Make an Unconditional Waiver and Release on Progress Payment?

This document should contain the following details:

1. The names of the parties and the location of the project if the issue relates to construction.
2. Confirmation of the claimant who received the first installment, is satisfied with it, and will not bring the case to the court. Verify your consent to receive payments in the future and add a payment schedule if necessary.
3. The total amount of money still owed to the original claimant.
4. List of exceptions not covered by the release.
5. Signatures of the parties.

Haven't found the template you're looking for? Take a look at the related templates below:

• Unconditional Waiver and Release on Final Payment;
• Conditional Waiver and Release Form;
• Release of Liability Form.