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What is a conditional on final payment?

A conditional lien waiver lists the amount owed during the period, and is effective upon actual receipt of payment. An unconditional lien waiver lists the amount already paid through the waivers date and is effective immediately upon signing.

What is the meaning of conditional release?

Conditional release means being released from a situation or responsibility with certain conditions that must be met. For example, a person may be released from jail on the condition that they attend counseling or stay away from certain people. If they do not meet these conditions, they may be sent back to jail.

What is another word for conditional release?

Parole comes from the French for word, and means word of honor. Youll most frequently hear it in relation to prisoners, who promise to fulfill certain conditions in return for an early release from jail.

What is the difference between conditional release and unconditional release?

Conditional Waiver and Release Upon Progress Payment This form is useful when the claimant is not yet paid, but will be paid out of a progress payment that is not the final payment. This conditional waiver and release is only effective if the claimant is actually paid. This release does not cover all items.

What is a conditional release for a payment?

Conditional Waiver and Release Upon Final Payment Use this form when the claimant is required to sign a waiver and release in exchange for, or in order to, induce a final payment, and the claimant has not yet been paid. This release is only binding if there is evidence of payment to the claimant.