Unconditional Waiver And Release On Final Payment Form

Unconditional Waiver And Release On Final Payment Form Template for Philippines

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Key Requirements PROMPT example:

"I need an Unconditional Waiver and Release on Final Payment Form for our Manila office building renovation project, where we're receiving the final payment of PHP 2.5M on March 15, 2025, and need to release all claims against the property owner ABC Corporation."

Document background

The Unconditional Waiver And Release On Final Payment Form is a critical document in Philippine construction and development projects, used when a contractor, subcontractor, or supplier has received final payment for their work or materials. This document is governed by Philippine civil law, particularly the Civil Code of the Philippines and the Contractor's License Law. It serves as a definitive acknowledgment that all payments have been received in full and that the executing party waives any future rights to claims or liens related to the project. The form is typically used at the completion of a project or phase of work, providing assurance to property owners and developers that they won't face future claims while giving contractors a clear mechanism for documenting final payment receipt. The document must comply with Philippine legal requirements for waivers and releases, including proper execution and, when required, notarization.

Suggested Sections

1. Title and Date: Clear identification of the document as an Unconditional Waiver and Release on Final Payment Form and the date of execution

2. Parties: Identification of the Claimant (contractor/supplier) and the Owner/Customer, including complete legal names and addresses

3. Project Information: Details of the project including project name, location, and any relevant project identification numbers

4. Payment Acknowledgment: Statement confirming receipt of final payment amount and date received

5. Waiver and Release Statement: Clear and unequivocal statement waiving and releasing any mechanic's liens, claims, or rights related to the project upon receipt of final payment

6. Warranties: Claimant's warranty that they have paid all subcontractors, suppliers, and labor associated with the project

7. Execution: Signature blocks for authorized representatives, including notarization requirements

Optional Sections

1. Excepted Claims: Section for listing any specific claims or rights that are not being waived (used when certain disputes or claims are explicitly preserved)

2. Conditional Provisions: Any provisions that must be met before the waiver becomes effective (used when certain conditions must be satisfied)

3. Prior Rights Reservation: Statement preserving rights related to retained amounts or unresolved changes (used when there are outstanding retention amounts)

4. Corporate Authority: Statement confirming authority to execute the waiver (used when signatory is signing on behalf of a corporation)

Suggested Schedules

1. Schedule A - Payment Details: Detailed breakdown of the final payment amount, including any previous payments and retention releases

2. Schedule B - Project Scope: Description of the work or services provided under the original contract

3. Schedule C - Subcontractor List: List of all subcontractors and suppliers who have provided services or materials for the project

4. Appendix 1 - Supporting Documents: Copies of relevant documents such as the final invoice, proof of payment, or completion certificates

Authors

Alex Denne

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

alex.den.21@genieai.co

Relevant legal definitions

Clauses

Relevant Industries

Construction

Real Estate Development

Infrastructure

Commercial Property

Industrial Development

Residential Development

Mining

Energy

Manufacturing

Telecommunications

Healthcare Facilities

Education Facilities

Hospitality

Retail Development

Relevant Teams

Legal

Finance

Operations

Procurement

Project Management

Construction Management

Risk and Compliance

Commercial

Contract Administration

Property Management

Relevant Roles

Project Manager

Construction Manager

Contract Administrator

Legal Counsel

Chief Financial Officer

Procurement Manager

Site Supervisor

Property Developer

Operations Director

Finance Manager

Commercial Director

Project Coordinator

Construction Site Manager

Quantity Surveyor

Risk Manager

Compliance Officer

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Let's create your Unconditional Waiver And Release On Final Payment Form

Authors

Alex Denne

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