assistance. The Principal is not obliged to release any unconditional undertakings until after payment is received. If neither party owes the other money, the Principal is to release any unconditional undertakings no later than 20 days after the date of issue of the final payment schedule. To release the whole of an unconditional undertaking, the original undertaking is endorsed with the following words: Principal no longer requires this unconditional undertaking’ ‘The The endorsement should be signed by a person with appropriate authority from the Principal, and the original of the unconditional undertaking returned to an appropriate authorised person in the financial institution with a copy of the letter and endorsed undertaking sent to the Contractor. Use Sample Letter 13H.
assistance. The Principal is not obliged to release any unconditional undertakings until after payment is received. If neither party owes the other money, the Principal is to release any unconditional undertakings no later than 20 days after the date of issue of the final payment schedule. To release the whole of an unconditional undertaking, the original undertaking is endorsed with the following words: ‘The Principal no longer requires this unconditional undertaking’ The endorsement should be signed by a person with appropriate authority from the Principal, and the original of the unconditional undertaking returned to an appropriate authorised person in the financial institution with a copy of the letter and endorsed undertaking sent to the Contractor. Use Sample Letter 13H.