Jacksonville Florida Waiver of Right to Claim Against the Payment Bond (Progress Payment) - Corporation or LLC

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

Description

This Waiver of Right to Claim Against the Payment Bond (Progress Payment) is for use by a corporate or LLC lienor to waive its 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. The Jacksonville Florida Waiver of Right to Claim Against the Payment Bond (Progress Payment) — Corporation or LLC is a legal document that pertains to construction projects in the city of Jacksonville, Florida. It is designed to waive the right of a corporation or limited liability company (LLC) to make a claim against the payment bond for progress payments. This waiver is commonly used in the construction industry when a contractor or subcontractor wishes to waive their right to make a claim against the payment bond for progress payments received for work performed. By signing this waiver, the corporation or LLC acknowledges that they have received payment for the work completed and forgo any future claim against the payment bond for those specific progress payments. It is important to note that there may be different types or versions of this waiver, depending on the specific circumstances of the construction project. Some common variations to the waiver might include different language, additional provisions, or specific conditions relevant to the project. Examples of different types of waivers within this category may include: 1. Partial Waiver: This type of waiver is used when the contractor or subcontractor wishes to waive the right to claim against the payment bond for a specific percentage of the progress payment received, while still reserving the right to claim for any remaining balance. 2. Final Waiver: Unlike a partial waiver, a final waiver is used when the contractor or subcontractor wishes to waive the right to claim against the payment bond for the entire progress payment received for the final phase of the project. Signing this waiver indicates that all work has been completed satisfactorily and all dues have been settled. 3. Conditional Waiver: A conditional waiver may be utilized when the corporation or LLC agrees to waive the right to claim against the payment bond, but only on the condition that the specific progress payment has been received and cleared in their account. 4. Unconditional Waiver: This type of waiver is commonly used when the corporation or LLC agrees to waive the right to claim against the payment bond without any conditions or restrictions, regardless of whether the progress payment has been received or not. It is essential to carefully review and understand the specific language and provisions within the waiver document to ensure that it accurately represents the intentions and agreements of the corporation or LLC in regard to their right to claim against the payment bond for progress payments received. Seeking legal advice or consulting with an attorney specializing in construction law can be beneficial in navigating this process.

The Jacksonville Florida Waiver of Right to Claim Against the Payment Bond (Progress Payment) — Corporation or LLC is a legal document that pertains to construction projects in the city of Jacksonville, Florida. It is designed to waive the right of a corporation or limited liability company (LLC) to make a claim against the payment bond for progress payments. This waiver is commonly used in the construction industry when a contractor or subcontractor wishes to waive their right to make a claim against the payment bond for progress payments received for work performed. By signing this waiver, the corporation or LLC acknowledges that they have received payment for the work completed and forgo any future claim against the payment bond for those specific progress payments. It is important to note that there may be different types or versions of this waiver, depending on the specific circumstances of the construction project. Some common variations to the waiver might include different language, additional provisions, or specific conditions relevant to the project. Examples of different types of waivers within this category may include: 1. Partial Waiver: This type of waiver is used when the contractor or subcontractor wishes to waive the right to claim against the payment bond for a specific percentage of the progress payment received, while still reserving the right to claim for any remaining balance. 2. Final Waiver: Unlike a partial waiver, a final waiver is used when the contractor or subcontractor wishes to waive the right to claim against the payment bond for the entire progress payment received for the final phase of the project. Signing this waiver indicates that all work has been completed satisfactorily and all dues have been settled. 3. Conditional Waiver: A conditional waiver may be utilized when the corporation or LLC agrees to waive the right to claim against the payment bond, but only on the condition that the specific progress payment has been received and cleared in their account. 4. Unconditional Waiver: This type of waiver is commonly used when the corporation or LLC agrees to waive the right to claim against the payment bond without any conditions or restrictions, regardless of whether the progress payment has been received or not. It is essential to carefully review and understand the specific language and provisions within the waiver document to ensure that it accurately represents the intentions and agreements of the corporation or LLC in regard to their right to claim against the payment bond for progress payments received. Seeking legal advice or consulting with an attorney specializing in construction law can be beneficial in navigating this process.