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I Signed What? Take Care To Understand The Releases You Sign!

You have all been there. You are due monies on a project, cash flow is tight, and finally a check is ready. You are handed a release to sign, and do so without much concern. It is not until later that you learn the effect of that release. Although you have executed hundreds or thousands of releases under the same circumstances without a hitch, do not assume that this release will bring the same result. As we have written here before, release language can prove tricky to analyze.  Read More . . .

2 Comments

to me signature is an illustration of letters and line, but when it comes to commitments ,one has to be careful and consider important facts:

signature is a device and a mechanism for an order to do something or release of
certain value documents as follow:

check to cover the payment on invoices / billing received
release of important documents: Bank Guarantees of any kind
TG/BG= tender executed in a right manner , all routines check has been done
to release such guarantee

APG against advance payment is the amortization and deduction is final to settle and release it

PBG against liability defect period = is the term and condition stipulated in the contract is completely met and accomplished in all compliance

for claims: is all the control and checking is done and all proper estimation and damages calculated to an actual value does it have approval process for final signature

for any documents like , contract, amendments, change order, proforma/ B/L and so on approval process is executed

never sign anything unless you have your own judgement

Best regards

Homayoun Pourshayan

h.pourshayan@aol.com

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