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Unconditional Waiver And Release On Final Payment
"I need an Unconditional Waiver and Release on Final Payment for a commercial building project in Dubai, where I'm the main contractor receiving final payment of AED 5.2 million on March 15, 2025, and need to confirm all subcontractors have been paid."
1. Parties: Identification of the parties: the releasing party (typically contractor/subcontractor/supplier) and the released party (typically owner/contractor), including their full legal names, addresses, and registration details as per UAE requirements
2. Background: Brief description of the original contract, project details, and context of the final payment being made
3. Definitions: Key terms used in the document, including 'Final Payment', 'Project', 'Contract', and 'Claims'
4. Final Payment Acknowledgment: Statement acknowledging receipt of the final payment amount, including the specific sum received and date of receipt
5. Scope of Release: Comprehensive description of what claims, rights, and demands are being waived and released upon receipt of final payment
6. Representations and Warranties: Statements confirming the releasing party's authority to execute the waiver and that no claims have been assigned to third parties
7. Governing Law and Jurisdiction: Explicit statement that the waiver is governed by UAE law and specification of jurisdiction for any disputes
1. Excluded Claims: Section listing any specific claims or rights that are not being waived, used when certain matters need to be preserved
2. Subcontractor Confirmation: Confirmation that all subcontractors and suppliers have been paid in full, used when the releasing party is a main contractor
3. Conditional Provisions: Any provisions that must be fulfilled before the waiver becomes effective, used when certain conditions must be met despite the unconditional nature of the release
4. Language Provision: Clause specifying that the English version prevails if a dual-language document is prepared, used when Arabic translation is provided
1. Schedule 1 - Project Details: Detailed description of the project, including location, contract reference numbers, and scope of work
2. Schedule 2 - Payment Details: Breakdown of the final payment amount, including any previous payments made and confirmation of the total contract sum
3. Schedule 3 - List of Related Contracts: List of all relevant contracts, purchase orders, change orders, and variations covered by the waiver
4. Appendix A - Supporting Documents: Copies of relevant payment certificates, completion certificates, or other supporting documentation
Authors
Claim
Contract
Contract Documents
Contract Price
Contractor
Effective Date
Final Payment
Final Payment Amount
Lien
Owner
Party/Parties
Project
Project Site
Release
Released Claims
Released Parties
Releasing Party
Retainage
Subcontractor
Supplier
Through-Date
Waiver
Work
Working Day
Extra Works
Variation Orders
Payment Certificate
Completion Certificate
Supporting Documents
Release and Waiver
Representations and Warranties
Authority to Execute
Payment Confirmation
Scope of Release
Unconditional Release
Claims Waiver
Final Settlement
Third Party Rights
Governing Law
Jurisdiction
Entire Agreement
Severability
Further Assurance
Language
Notice
Counterparts
Assignment
Binding Effect
Construction
Real Estate Development
Infrastructure
Commercial Development
Residential Development
Industrial Construction
Energy and Utilities
Healthcare Construction
Hospitality Development
Retail Development
Educational Facilities
Transportation Infrastructure
Legal
Finance
Operations
Project Management
Commercial
Construction
Contract Administration
Risk Management
Claims Management
Development
Project Manager
Construction Manager
Contract Administrator
Legal Counsel
Chief Financial Officer
Operations Director
Project Director
Commercial Manager
Finance Manager
Claims Manager
General Counsel
Managing Director
Construction Director
Development Manager
Senior Quantity Surveyor
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