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Conditional Waiver And Release On Progress Payment

Conditional Waiver And Release On Progress Payment Template for Indonesia

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Key Requirements PROMPT example:

Conditional Waiver And Release On Progress Payment

"I need a Conditional Waiver and Release on Progress Payment for a Jakarta shopping mall construction project with a progress payment of 2.5 billion IDR, where we need dual language provisions (English and Indonesian) and specific protections for ongoing disputes about extra work claims."

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Document background
The Conditional Waiver And Release On Progress Payment is a crucial document in Indonesian construction projects that helps manage payment-related risks and obligations between parties. It is typically used when a contractor, subcontractor, or supplier is receiving a progress payment but has not yet been paid, providing a conditional release of their lien rights and claims up to the payment amount. The document becomes effective only upon actual receipt of the specified payment, offering protection to both parties in the transaction. This type of waiver is commonly used in various construction projects throughout Indonesia and must comply with local regulations, including the Indonesian Civil Code and Law No. 2 of 2017 on Construction Services. It includes specific details about the payment amount, project information, and the scope of the release, while preserving certain rights such as retention amounts or disputed claims.
Suggested Sections

1. Parties: Identification of the Claimant/Payee (typically contractor or subcontractor) and the Owner/Payor, including their legal names, addresses, and registration numbers

2. Background: Brief description of the underlying construction project, original contract details, and the context of the progress payment

3. Definitions: Key terms used in the document including 'Progress Payment', 'Conditional Waiver', 'Through Date', and other relevant terms

4. Progress Payment Details: Specific information about the progress payment, including amount, payment period, and through date

5. Waiver and Release: The core section detailing what rights are being waived upon receipt of the specified payment

6. Conditions: Clear statement that the waiver and release are effective only upon receipt of the specified payment

7. Exceptions and Reservations: List of rights and claims specifically reserved and not waived by this document

8. Representations and Warranties: Claimant's confirmation of authority to execute the waiver and accuracy of claims

9. Governing Law: Specification that Indonesian law governs the document and its interpretation

10. Execution: Signature blocks and execution requirements in accordance with Indonesian law

Optional Sections

1. Disputed Claims: Section to identify any disputed claims or amounts not covered by the waiver - include when there are ongoing disputes

2. Lower-tier Releases: Requirements for providing releases from subcontractors and suppliers - include when dealing with general contractors

3. Notice Provisions: Specific notice requirements for payment processing - include for complex projects with formal notice requirements

4. Language Provisions: Dual language provisions (Indonesian and English) - include when dealing with international parties

5. Notarization Requirements: Specific notarization provisions - include when required by project value or complexity

Suggested Schedules

1. Schedule A - Payment Details: Detailed breakdown of the progress payment amount, including any adjustments or deductions

2. Schedule B - Project Information: Detailed description of the project, including location, contract numbers, and relevant dates

3. Schedule C - Through Date Calculation: Calculation and explanation of the through date and covered work period

4. Appendix 1 - Supporting Documents: List of required supporting documents such as progress certificates or engineer's reports

5. Appendix 2 - Form of Payment Confirmation: Standard form for confirming receipt of payment that triggers the waiver

Authors

Alex Denne

Head of Growth (Open Source Law) @ Genie AI | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Linkedin in social icon imageX social icon image
alex.den.21@genieai.co
Relevant legal definitions
Relevant Industries

Construction

Real Estate Development

Infrastructure

Industrial Development

Commercial Property

Residential Development

Mining

Oil and Gas

Public Works

Transportation

Healthcare Facilities

Education Facilities

Retail Development

Hospitality

Relevant Teams

Legal

Finance

Procurement

Operations

Project Management

Contract Administration

Risk Management

Commercial

Compliance

Construction Management

Relevant Roles

Project Manager

Construction Manager

Contract Administrator

Legal Counsel

Chief Financial Officer

Procurement Manager

Site Supervisor

Quantity Surveyor

Finance Director

Commercial Director

Operations Manager

Risk Manager

Claims Manager

Project Controller

Compliance Officer

Industries
Indonesian Civil Code (Kitab Undang-undang Hukum Perdata): The fundamental law governing contracts and civil matters in Indonesia, particularly Book III on Obligations, which provides the basic framework for contract formation, performance, and enforcement
Law No. 2 of 2017 on Construction Services: The primary legislation governing construction services in Indonesia, including provisions on construction contracts, payment mechanisms, and professional responsibilities
Government Regulation No. 29 of 2000 on Construction Services: Implementing regulation that provides detailed provisions on construction service delivery, including payment terms and conditions in construction contracts
Minister of Public Works Regulation No. 07/PRT/M/2011: Regulates construction contract standards and payment procedures in construction projects, including progress payment mechanisms
Law No. 30 of 1999 on Arbitration and Alternative Dispute Resolution: Governs dispute resolution mechanisms that may arise from construction contracts and payment-related conflicts
Presidential Regulation No. 16 of 2018 on Government Procurement: Relevant for progress payments in government construction projects, including provisions on payment procedures and documentation requirements
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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