We are a subcontractor on a prevailing wage project for the CA Dept of Parks and Recreation. We have finished our portion of the project and the general has submitted bills to be paid. The state hasn't paid yet and the general has agreed to send us $30,000 as a small progress payment to help us with our cash flow. Our first invoice sent to the general was a progress invoice on the original contract for $22,585.05 and change order contract for $169,150.00 totaling $191,735.05. We have since invoiced the general two additional invoices totaling $54,828.91. I'm not sure how to complete the release for the $30,000. My understanding is that I would enter $30,000 as the amount to release but do I need to enter the remaining balance somewhere on the waiver? Thank you
If you are submitting a conditional waiver on progress payment - which is what you should submit before payment - you can submit the waiver for the total amount you are owed. The conditional waiver on progress payment only waives your rights if you actually receive payment. Once you are paid the $30K, you can submit an unconditional waiver for that amount. On subsequent conditional waivers you will want to note the previous conditional waiver and the amounts not yet paid on that waiver. Only submit an unconditional waiver for amounts that you have actually been paid.
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