Fort Lauderdale Florida Waiver of Right to Claim Against the Payment Bond (Progress Payment) - Individual

• Category: Florida Liens - Construction - Mechanics
• State: Florida
• City: Fort Lauderdale
• Control #: FL-03229
• Format: Word; Rich Text

Description

This Waiver of Right to Claim Against the Payment Bond (Progress Payment) is for use by an individual lienor to waive his or her right to claim against the payment bond for labor, services, or materials furnished through a specific date on a particular job of an owner of property for improvements in consideration of a certain sum of money. A Fort Lauderdale Florida Waiver of Right to Claim Against the Payment Bond (Progress Payment) — Individual is a legal document that releases an individual's right to claim against the payment bond for progress payments on a construction project in Fort Lauderdale, Florida. This waiver is typically used when individuals, such as subcontractors or suppliers, have received payment for work or materials provided on the project. By signing this waiver, the individual waives their right to make any future claims against the payment bond related to the progress payment received. It is important to note that this waiver only impacts the progress payment and does not waive any rights to make a claim for other future payments or for any additional work or materials that may be provided later in the project. There are a few different types of Fort Lauderdale Florida Waivers of Right to Claim Against the Payment Bond (Progress Payment) — Individual: 1. Conditional Waiver: This type of waiver becomes effective only upon the condition that the individual receives payment for the progress payment mentioned in the waiver. It ensures that the individual will not make any claims against the payment bond as long as they receive the stated payment. 2. Unconditional Waiver: With this type of waiver, the individual releases their right to claim against the payment bond immediately upon signing the waiver, regardless of whether they actually receive the payment or not. It is crucial for individuals to carefully consider their payment status and the potential risks before opting for an unconditional waiver. 3. Partial Waiver: A partial waiver is used when an individual has only received a partial payment for their work or materials on the project. Signing this waiver releases the right to claim against the payment bond only for the specific amount mentioned in the waiver, while still preserving the rights to claim for the remaining balance. 4. Final Waiver: As the name suggests, a final waiver is signed when the individual has received full payment for all work or materials provided on the project. By signing this waiver, the individual waives their right to make any future claims against the payment bond for progress payments or any other amounts related to the project. In conclusion, a Fort Lauderdale Florida Waiver of Right to Claim Against the Payment Bond (Progress Payment) — Individual is a critical legal document that ensures individuals understand and agree to waive their rights to make future claims against the payment bond for progress payments on a construction project in Fort Lauderdale, Florida. It is essential to review the specific type of waiver being used and the payment status before signing, as it can have implications for future claims.

A Fort Lauderdale Florida Waiver of Right to Claim Against the Payment Bond (Progress Payment) — Individual is a legal document that releases an individual's right to claim against the payment bond for progress payments on a construction project in Fort Lauderdale, Florida. This waiver is typically used when individuals, such as subcontractors or suppliers, have received payment for work or materials provided on the project. By signing this waiver, the individual waives their right to make any future claims against the payment bond related to the progress payment received. It is important to note that this waiver only impacts the progress payment and does not waive any rights to make a claim for other future payments or for any additional work or materials that may be provided later in the project. There are a few different types of Fort Lauderdale Florida Waivers of Right to Claim Against the Payment Bond (Progress Payment) — Individual: 1. Conditional Waiver: This type of waiver becomes effective only upon the condition that the individual receives payment for the progress payment mentioned in the waiver. It ensures that the individual will not make any claims against the payment bond as long as they receive the stated payment. 2. Unconditional Waiver: With this type of waiver, the individual releases their right to claim against the payment bond immediately upon signing the waiver, regardless of whether they actually receive the payment or not. It is crucial for individuals to carefully consider their payment status and the potential risks before opting for an unconditional waiver. 3. Partial Waiver: A partial waiver is used when an individual has only received a partial payment for their work or materials on the project. Signing this waiver releases the right to claim against the payment bond only for the specific amount mentioned in the waiver, while still preserving the rights to claim for the remaining balance. 4. Final Waiver: As the name suggests, a final waiver is signed when the individual has received full payment for all work or materials provided on the project. By signing this waiver, the individual waives their right to make any future claims against the payment bond for progress payments or any other amounts related to the project. In conclusion, a Fort Lauderdale Florida Waiver of Right to Claim Against the Payment Bond (Progress Payment) — Individual is a critical legal document that ensures individuals understand and agree to waive their rights to make future claims against the payment bond for progress payments on a construction project in Fort Lauderdale, Florida. It is essential to review the specific type of waiver being used and the payment status before signing, as it can have implications for future claims.