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2. Lien waiver - Wikipedia

   en.wikipedia.org/wiki/Lien_waiver

   Owners should demand this release when they are paid in full. Some states allow an Unconditional Release upon final payment that is used to induce the final payment. It is an inherent vagary in the lien release law. In the United States, some states only use a conditional waiver on progress payment and an unconditional waiver on final payment.

3. Punch list - Wikipedia

   en.wikipedia.org/wiki/Punch_list

   In the United States construction industry, contract agreements are usually written to allow the owner to withhold (retain) the final payment to the general contractor as "retainage". [3] The contractor is bound by the contract to complete a list of contract items, called a punch list, in order to receive final payment from the owner.

4. Retainage - Wikipedia

   en.wikipedia.org/wiki/Retainage

   The contractor has a financial incentive to achieve completion as early as possible (to release the first moiety payment) and to minimise defects in the works (to achieve the second payment). [ 3 ] : 27 Retentions held against sub-contractors are also a key source of cash for main contractors, who may use them to finance new projects.

5. Accord and satisfaction - Wikipedia

   en.wikipedia.org/wiki/Accord_and_satisfaction

   Accord and satisfaction is a contract law concept about the purchase of the release from a debt obligation. It is one of the methods by which parties to a contract may terminate their agreement. The release is completed by the transfer of valuable consideration that must not be the actual performance of the obligation itself. [1]

6. This company issued 'final notice' letters to American ... - AOL

   www.aol.com/finance/company-issued-final-notice...

   The letters sought to create a false sense of urgency, with phrases like 'final notice,' and 'immediate response requested.'" These types of phrases could cause any consumer to stop in their tracks.

7. Statutory holdback - Wikipedia

   en.wikipedia.org/wiki/Statutory_holdback

   Under these conditions, the subcontractor may collect payment from the owner, who then reduces his final payment (i.e. when releasing what remains of the holdback) to the contractor. Note that the subcontractor is entitled to payment based on quantum meruit, irrespective of whether or not the subcontractor has privity of contract with the owner.

8. Letter of credit - Wikipedia

   en.wikipedia.org/wiki/Letter_of_credit

   Image 1: After a contract is concluded between a buyer and a seller, the buyer's bank supplies a letter of credit to the seller. Image 2: The seller consigns the goods to a carrier in exchange for a bill of lading. Image 3: The seller provides the bill of lading to the bank in exchange for payment. The seller's bank then provides the bill to ...

9. Sports News & latest headlines from every league - AOL.com

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   Discover the latest breaking news in the U.S. and around the world — politics, weather, entertainment, lifestyle, finance, sports and much more.