West Palm Beach Florida Waiver of Right to Claim Against the Payment Bond (Progress Payment) - Individual

• Category: Florida Liens - Construction - Mechanics
• State: Florida
• City: West Palm Beach
• 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. The West Palm Beach Florida Waiver of Right to Claim Against the Payment Bond (Progress Payment) — Individual is a legal document that outlines the agreement between a subcontractor or individual and a general contractor in the construction industry. This waiver is specific to West Palm Beach, Florida and pertains to progress payments made on a construction project. The purpose of the waiver is to release the general contractor and their payment bond from any potential claims or disputes related to progress payments received by the subcontractor or individual. By signing this waiver, the subcontractor agrees to waive their right to make any claims against the payment bond for the specified progress payment. It is important to note that there may be different types or variations of the West Palm Beach Florida Waiver of Right to Claim Against the Payment Bond (Progress Payment) — Individual, depending on the specific terms and conditions set by the general contractor or governing laws in West Palm Beach. Variations may include: 1. Partial Waiver: This type of waiver is used when the subcontractor or individual wants to waive their right to claim against the payment bond for a specific progress payment or partial amount received. It applies only to the particular payment or portion mentioned in the waiver. 2. Full Waiver: A full waiver is more comprehensive and operates as a release of all rights to claim against the payment bond for all progress payments made on the project. Subcontractors or individuals who sign this type of waiver are essentially forfeiting any potential claims against the payment bond. 3. Conditional Waiver: A conditional waiver is contingent upon the subcontractor or individual receiving the payment for which the waiver is being executed. They may sign this waiver before receiving the progress payment, but it becomes effective only when the payment is made. 4. Unconditional Waiver: An unconditional waiver, on the other hand, becomes effective immediately upon signing and does not depend on the actual receipt of payment. This type of waiver is typically used when the subcontractor or individual wants to waive their rights without any conditions or prerequisites. It is crucial for all parties involved in a construction project to carefully review and understand the specific terms and conditions included in the West Palm Beach Florida Waiver of Right to Claim Against the Payment Bond (Progress Payment) — Individual. Seeking legal advice or consulting with an attorney experienced in construction law is highly recommended ensuring that the waiver accurately represents the intentions and protects the rights of the subcontractor or individual signing it.

The West Palm Beach Florida Waiver of Right to Claim Against the Payment Bond (Progress Payment) — Individual is a legal document that outlines the agreement between a subcontractor or individual and a general contractor in the construction industry. This waiver is specific to West Palm Beach, Florida and pertains to progress payments made on a construction project. The purpose of the waiver is to release the general contractor and their payment bond from any potential claims or disputes related to progress payments received by the subcontractor or individual. By signing this waiver, the subcontractor agrees to waive their right to make any claims against the payment bond for the specified progress payment. It is important to note that there may be different types or variations of the West Palm Beach Florida Waiver of Right to Claim Against the Payment Bond (Progress Payment) — Individual, depending on the specific terms and conditions set by the general contractor or governing laws in West Palm Beach. Variations may include: 1. Partial Waiver: This type of waiver is used when the subcontractor or individual wants to waive their right to claim against the payment bond for a specific progress payment or partial amount received. It applies only to the particular payment or portion mentioned in the waiver. 2. Full Waiver: A full waiver is more comprehensive and operates as a release of all rights to claim against the payment bond for all progress payments made on the project. Subcontractors or individuals who sign this type of waiver are essentially forfeiting any potential claims against the payment bond. 3. Conditional Waiver: A conditional waiver is contingent upon the subcontractor or individual receiving the payment for which the waiver is being executed. They may sign this waiver before receiving the progress payment, but it becomes effective only when the payment is made. 4. Unconditional Waiver: An unconditional waiver, on the other hand, becomes effective immediately upon signing and does not depend on the actual receipt of payment. This type of waiver is typically used when the subcontractor or individual wants to waive their rights without any conditions or prerequisites. It is crucial for all parties involved in a construction project to carefully review and understand the specific terms and conditions included in the West Palm Beach Florida Waiver of Right to Claim Against the Payment Bond (Progress Payment) — Individual. Seeking legal advice or consulting with an attorney experienced in construction law is highly recommended ensuring that the waiver accurately represents the intentions and protects the rights of the subcontractor or individual signing it.