Document background
The Conditional Waiver And Release On Progress Payment is a crucial document in Dutch construction and development projects, used when partial payments are made during ongoing works. It provides a balanced mechanism where contractors, subcontractors, or suppliers can receive progress payments while project owners or general contractors obtain assurance against double payment or future claims for the same work. The document becomes effective only when the specified payment is received, adhering to Dutch Civil Code requirements and construction industry practices. It typically includes details of the payment amount, project information, and the scope of rights being waived, while preserving certain rights such as retention amounts or disputed claims. This document type is particularly important in the Netherlands where construction payment security and clear documentation of partial releases are essential for project risk management.
