Nev. Rev. Stat. § 338.490
Limitations on requiring release or waiver of right to receive progress payment or retainage payment
Nevada · Nevada Revised Statutes Chapter 338 — Public Works · Status: effective
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- Citation
- Nev. Rev. Stat. § 338.490, Limitations on requiring release or waiver of right to receive progress payment or retainage payment, Nevada, version 1 as recorded 2026-10-03, yourstate.us, https://yourstate.us/provision/2104100
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Full text
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.