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Current as of January 01, 2021 | Updated by FindLaw Staff
Any release or waiver required to be provided by a contractor, subcontractor or supplier to receive a progress payment or retainage payment must be:
1. Conditional for the purpose of receiving payment and shall be deemed to become unconditional upon the receipt of the money due to the contractor, subcontractor or supplier; and
2. Limited to claims related to the invoiced amount of the labor, materials, equipment or supplies that are the subject of the progress bill or retainage bill.
Cite this article: FindLaw.com - Nevada Revised Statutes Title 28. Public Works and Planning § 338.490. Limitations on requiring release or waiver of right to receive progress payment or retainage payment - last updated January 01, 2021 | https://codes.findlaw.com/nv/title-28-public-works-and-planning/nv-rev-st-338-490/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature or via Westlaw before relying on it for your legal needs.
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