The Contractor Waiver And Release Form is a crucial document in Malaysian construction and development projects, used when a contractor needs to formally acknowledge receipt of payment and waive their rights to make further claims related to the work performed. This document is particularly important in the Malaysian context, where it must comply with specific legal requirements under the Contracts Act 1950 and the Construction Industry Payment and Adjudication Act 2012 (CIPAA). It serves as protection for project owners and developers against future claims while providing contractors with documented evidence of payment. The form typically includes project details, payment information, and specific claims being waived, and can be used for both progress payments and final payment situations. It's essential in maintaining clear records and preventing future disputes in construction and development projects.
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1. Parties: Identification of the contractor providing the waiver and the party receiving the waiver, including full legal names, registration numbers, and addresses
2. Background: Brief context of the project/work performed and the purpose of the waiver and release
3. Definitions: Key terms used in the document, including 'Project', 'Work', 'Claims', 'Payment', etc.
4. Acknowledgment of Payment: Confirmation of payment received or to be received, including specific amount
5. Waiver and Release: Core section detailing the specific rights, claims, and liens being waived by the contractor
6. Scope of Release: Detailed description of what is covered under the release, including timeframes and specific aspects of work
7. Representations and Warranties: Contractor's confirmation that they have authority to provide the waiver and that no claims have been assigned to others
8. Governing Law: Specification that Malaysian law governs the waiver and release
9. Execution: Signature blocks, witness requirements, and date of execution
1. Conditional Release Provisions: Used when the release is conditional upon receipt of payment, specifying the conditions that must be met
2. Exceptions and Reservations: Used when certain claims or rights are specifically excluded from the waiver
3. Subcontractor Confirmations: Required when the contractor needs to confirm all subcontractors have been paid
4. Progress Payment Provisions: Used for partial/progress payment waivers as opposed to final waivers
5. Indemnification: Added when specific indemnification obligations need to be included
6. Future Claims Waiver: Optional section for waiving unknown future claims, must be carefully worded under Malaysian law
1. Schedule A - Project Details: Detailed description of the project or work performed, including location, contract references, and scope
2. Schedule B - Payment Details: Breakdown of payments received and/or pending, including any retention amounts
3. Schedule C - Subcontractor List: List of all subcontractors and suppliers related to the waiver, if applicable
4. Appendix 1 - Supporting Documents: Copies of relevant payment receipts, completion certificates, or other supporting documentation
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