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Contractor Final Payment Release

Contractor Final Payment Release Template for Canada

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Key Requirements PROMPT example:

Contractor Final Payment Release

"I need a Contractor Final Payment Release for a commercial building project in Ontario, with specific carve-outs for ongoing warranty work on the HVAC system that will continue until March 2025."

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Document background
The Contractor Final Payment Release is a critical document used at the completion of construction projects in Canada to formalize the final payment process and protect all parties involved. It is typically executed when all substantial project work has been completed and final payment is ready to be released. The document confirms receipt of all payments due under the contract, provides a comprehensive release of claims (excluding specified items like warranties), and includes necessary statutory declarations regarding subcontractor and supplier payments. This release must comply with provincial construction lien legislation and may need to address specific requirements under prompt payment legislation in provinces where applicable. The document is essential for project closeout and often serves as a prerequisite for releasing final holdback amounts.
Suggested Sections

1. Parties: Identification of the contractor giving the release and the party receiving the release (typically the owner or general contractor)

2. Background: Details of the original contract, project description, and confirmation that work has been completed

3. Definitions: Key terms including 'Contract', 'Project', 'Final Payment Amount', and 'Claims'

4. Acknowledgment of Final Payment: Statement of the final payment amount and confirmation of receipt

5. Release and Discharge: Comprehensive release language covering all claims, liens, and demands related to the project

6. Warranty Obligations: Confirmation that warranty obligations survive the release as per the original contract

7. Representations and Warranties: Contractor's confirmation that all subcontractors and suppliers have been paid

8. Governing Law: Specification of applicable provincial law and jurisdiction

9. Execution: Signature blocks and date of execution

Optional Sections

1. Exceptions to Release: Used when specific claims or rights are intentionally excluded from the release

2. Statutory Declaration: Include when required by provincial legislation or contract terms

3. Lien Compliance: Additional section when specific lien waiver language is required by jurisdiction

4. Insurance Claims: Include when there are ongoing or potential insurance claims that need to be addressed

5. Confidentiality: Added when parties wish to keep the terms of the release confidential

6. Survival: Used when specific obligations need to survive the release

Suggested Schedules

1. Schedule A - Project Details: Detailed description of the project and original contract information

2. Schedule B - Payment Summary: Breakdown of all payments made, including the final payment amount

3. Schedule C - Statutory Declaration Form: Standard form statutory declaration regarding payment of subcontractors and suppliers

4. Schedule D - Outstanding Warranty Items: List of any warranty items that remain in effect after the release

5. Schedule E - Lien Waiver Forms: Jurisdiction-specific lien waiver forms if required

Authors

Alex Denne

Head of Growth (Open Source Law) @ tiktok³ÉÈË°æ | 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

Infrastructure

Commercial Development

Residential Development

Industrial Development

Government

Energy

Mining

Healthcare

Education

Retail

Hospitality

Relevant Teams

Legal

Finance

Construction

Operations

Project Management

Commercial

Procurement

Risk Management

Contract Administration

Development

Relevant Roles

Project Manager

Construction Manager

Contract Administrator

Legal Counsel

Chief Financial Officer

Development Manager

Site Superintendent

Quantity Surveyor

Cost Controller

Financial Controller

Commercial Director

Operations Manager

Chief Operating Officer

Property Manager

Procurement Manager

Industries







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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