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Conditional Waiver And Release On Final Payment Form for the United Kingdom

Conditional Waiver And Release On Final Payment Form Template for England and Wales

A Conditional Waiver and Release on Final Payment Form is a legal document used in England and Wales that provides assurance to the paying party that upon receipt of the final payment, the contractor/subcontractor waives all rights to claims relating to the work performed. The document is conditional upon actual receipt of the specified payment and includes detailed information about the project, payment amount, and scope of the release. It serves as protection for both parties by clearly defining the terms under which claims are waived while ensuring the contractor receives their final payment.

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Conditional Waiver And Release On Final Payment Form

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What is a Conditional Waiver And Release On Final Payment Form?

The Conditional Waiver And Release On Final Payment Form is a crucial document in construction and development projects governed by English and Welsh law. It is typically used at the completion of a project or phase when final payment is due. The document protects the paying party from future claims while ensuring the contractor receives their final payment before the release becomes effective. It includes specific details about the project, payment amount, and scope of claims being waived. The conditional nature means the release only becomes effective upon actual receipt of the specified payment, providing security for both parties. This document is particularly important in complex construction projects where multiple contractors and substantial payments are involved.

What sections should be included in a Conditional Waiver And Release On Final Payment Form?

1. Identification of Parties: Details of the claimant/releasing party and the party being released

2. Project Information: Specific details about the project, contract, or work performed

3. Payment Amount: Statement of the final payment amount triggering the release

4. Conditional Statement: Clear statement that the release is conditional upon receipt of payment

5. Scope of Release: Detailed description of what claims and rights are being waived

6. Execution Block: Signature blocks and date

What sections are optional to include in a Conditional Waiver And Release On Final Payment Form?

1. Exceptions to Release: Specific claims or rights that are excluded from the waiver, used when certain claims need to be preserved

2. Representations and Warranties: Statements about authority to give release and other assurances, typically included in more formal or high-value releases

3. Third Party Rights: Provisions addressing the treatment of rights of third parties, included when third party rights might be affected

What schedules should be included in a Conditional Waiver And Release On Final Payment Form?

1. Schedule of Outstanding Claims: List of any preserved or excepted claims

2. Payment Details: Breakdown of final payment amount and previous payments

3. Project Details: Detailed description of work completed or services provided

Authors

Alex Denne

Head of Growth (Open Source Law) @ ¶¶Òõ¶ÌÊÓÆµ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Jurisdiction

England and Wales

Cost

Free to use
Relevant legal definitions

























Clauses




















Industries

Housing Grants, Construction and Regeneration Act 1996: Primary legislation governing construction contracts in England and Wales, containing key provisions about payment mechanisms, rights, and 'pay when paid' clauses

Contracts (Rights of Third Parties) Act 1999: Legislation governing how third-party rights are affected in contractual arrangements, crucial for determining the scope of the waiver's effect on parties not directly involved in the agreement

Late Payment of Commercial Debts (Interest) Act 1998: Legislation concerning interest on commercial debts, relevant when addressing any interest claims being waived in the final payment release

Limitation Act 1980: Sets statutory time limits for various types of legal claims, important for defining the temporal scope of claims being waived

Common Law Principles: Fundamental legal principles including consideration, construction of releases and waivers, and the doctrine of accord and satisfaction

Construction Act 2009: Updates to construction industry payment provisions, including requirements for payment notices and pay less notices

Civil Procedure Rules: Rules governing civil litigation in England and Wales, relevant for addressing potential future claims and proceedings in the waiver

Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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