Public-domain · open source
OpenJurist

NRS 338.490

Limitations on requiring release or waiver of right to receive progress payment or retainage payment

Applied in 1 court decision — leading case APCO CONSTR., INC. v. HELIX ELEC. OF NEV., LLC (2022)

Most recently applied in APCO CONSTR., INC. v. HELIX ELEC. OF NEV., LLC (May 2022)

(Added to NRS by 1999, 1989)

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.

Official source: Nevada Legislature. Reproduced from public-domain Nevada statutes; confirm against the official source for the current text. Not legal advice.