The Conditional Waiver And Release On Final Payment Form is a crucial document used in New Zealand construction projects to facilitate clean project closures and final payments. This document is typically used at the completion of construction works when the final payment is ready to be made, but before it has been received. It provides assurance to the paying party that once the final payment is made, they will receive a complete release of lien rights and claims related to the work performed. The form must comply with New Zealand legislation, particularly the Construction Contracts Act 2002, and includes specific information about the project, parties involved, payment amount, and the scope of the waiver. It serves as a vital tool for risk management and project closure, ensuring that all parties have clarity regarding the final payment and release of rights. The conditional nature of the waiver protects the contractor or subcontractor by ensuring their rights are only waived upon actual receipt of the agreed final payment.
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1. Claimant Information: Identifies the party providing the waiver (typically contractor/subcontractor), including full legal name and business address
2. Project Details: Specifies the construction project information, including project name, address, and owner details
3. Payment Information: States the final payment amount that triggers this waiver and any previous payments received
4. Conditional Waiver Statement: Clear statement that the waiver and release become effective only upon receipt of final payment
5. Scope of Waiver: Detailed description of the rights, claims, and liens being waived upon payment
6. Through Date: Specifies the date through which the waiver applies and confirms this as final payment
7. Signature Block: Space for claimant's authorized signature, date, and witness details
1. Exceptions: Lists any specific claims or rights explicitly excluded from the waiver, used when certain disputes or claims are being preserved
2. Progress Payment History: Summary of all previous progress payments, used for complex projects with multiple payment stages
3. Disputed Claims: Section identifying any outstanding disputed claims, used when there are unresolved issues separate from the final payment
4. Additional Certifications: Extra certifications required by specific parties or jurisdictions, used when project requirements demand additional assurances
5. Subcontractor Confirmation: Confirmation that all subcontractors and suppliers have been paid, used for primary contractors
1. Schedule A - Payment Details: Detailed breakdown of the final payment amount and any retained amounts
2. Schedule B - List of Completed Works: Itemized list of all completed works covered by this waiver
3. Appendix 1 - Supporting Documents: Copies of relevant invoices, payment certificates, or other supporting documentation
4. Appendix 2 - Previous Waivers: Copies of any previous progress payment waivers referenced in this final waiver
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