This Waiver And Release Of Lien Upon Progress Payment form is for use by a corporate or LLC lienor to waive and release its lien and right to claim a lien for labor, services or materials furnished through a specific date to a customer on the job of the owner of property.
The Jacksonville Florida Waiver And Release Of Lien Upon Progress Payment Form Constructionio— - Mechanic Liens - Corporation or LLC is a legal document used in the construction industry to release a claim for a lien upon receiving a progress payment on a project. It is specific to contractors, subcontractors, and suppliers in the state of Florida. This form is designed to protect the interests of corporations or limited liability companies (LCS) involved in construction projects. It allows them to waive their right to claim a lien on the property in exchange for a progress payment. The purpose of this waiver and release form is to provide assurance to the property owner, general contractor, or project lender that the construction work or supplies have been paid for, and no future claims for a lien will be made in relation to the specific payment being received. There are different types of Jacksonville Florida Waiver And Release Of Lien Upon Progress Payment Form Constructionio— - Mechanic Liens - Corporation or LLC, based on the specific stage of the project and the type of payment being made: 1. Partial Release of Lien Form: This type of waiver and release form is used when an interim or partial progress payment is made during the course of the project. It releases the lien rights for the payment made, but not for the remaining balance. 2. Final Release of Lien Form: This form is used when the final payment is made, marking the completion of the project. It releases all lien rights on the property related to the project. In both cases, by signing the waiver and release form, the corporation or LLC agrees to release any claim, right, or interest they may have had in the property, including mechanic's liens, up to the amount stated in the form. The keywords associated with this form include: — Jacksonville Florida: Indicates the specific jurisdiction where the form is applicable. — Waiver and Release: Describes the purpose of the form — to waive and release any lien rights— - Lien Upon Progress Payment: Specifies that the waiver is related to a progress payment made during the project. — Construction: Indicates that the form is intended for use within the construction industry. — Mechanic Liens: Refers to the legal rights of contractors, subcontractors, and suppliers to place a lien on the property until the payment is made. — Corporation or LLC: Identifies the specific type of entity that is executing the waiver and release form.
