An Unconditional Waiver and Release on Final Payment is a formal document signed by the payer and their counterpart where the counterpart confirms their intention not to pursue any legal action against the payer who made a final payment towards their original contract. Download an Unconditional Waiver and Release on Final Payment template via the link below and use it as it is or customize the document to your liking.
Widely used to handle different financial obligations such as construction projects and agreements with banking institutions, this document allows the parties to negotiate compensation, confirm the services or products have been paid in full, and certify the claimant is satisfied with the compensation that was offered and delivered. You have to verify the release of the existing lien, suspension of payment notices, and waiver of payment bond rights. Identify the parties to the agreement, specify the location of the project if the waiver relates to construction, state the consideration the parties have deemed acceptable, list exceptions that will not be covered by the waiver, and sign the document. Do not agree to sign the waiver and release until you have proof of payment.
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