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The Conditional Waiver And Release On Progress Payment Form is a standard document used throughout Canadian construction projects to facilitate the payment process while protecting the interests of all parties involved. This form is typically used when a contractor, subcontractor, or supplier is receiving a progress payment but wants to ensure their lien rights are only waived upon actual receipt of payment. The document specifies the payment amount, the project details, and the scope of the waiver, becoming effective only when the specified payment is received and cleared. It complies with various provincial construction lien acts and prompt payment legislation, making it a crucial tool in construction payment management. The conditional nature of the waiver provides security for the releasing party, as their rights are preserved until payment is actually received, while also giving the paying party assurance that lien rights will be waived once payment is completed.

1. Project Identification: Details of the construction project including project name, address, and owner information

2. Party Information: Identification of the claimant (party giving the waiver) and the party receiving the waiver

3. Payment Details: Specific information about the progress payment amount, payment period, and through date

4. Conditional Waiver Statement: Clear statement that the waiver and release are conditional upon receipt of the specified payment

5. Rights Being Waived: Explicit description of the lien rights and claims being waived upon receipt of payment

6. Effective Date: Statement of when the waiver becomes effective (upon receipt of payment)

7. Signature Block: Space for dated signatures, including claimant's authorized representative information