Orange Right Corporation

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

Description orange payment corporation

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. Orange Florida Waiver of Right to Claim Against the Payment Bond (Progress Payment) — Corporation or LLC is a legal document that serves as a written agreement between a corporation or limited liability company (LLC) and a contractor. It pertains specifically to the waiver of certain rights related to payment bonds and progress payments. The purpose of this waiver is to protect the interests of contractors and subcontractors by ensuring that they receive timely payments for the work they perform on a construction project. By signing this waiver, the corporation or LLC acknowledges and agrees to waive its right to make any claims against the payment bond for progress payments. There are two main types of Orange Florida Waiver of Right to Claim Against the Payment Bond (Progress Payment) — Corporation or LLC: 1. Conditional Waiver: This type of waiver is executed by the corporation or LLC upon receiving a progress payment from the contractor. It states that upon receipt of the payment, the corporation or LLC waives its right to make claims against the payment bond for that specific progress payment. However, this waiver is conditional and only effective once the payment clears the bank. 2. Unconditional Waiver: This type of waiver is executed by the corporation or LLC after receiving the progress payment and once the payment has cleared the bank. By signing this waiver, the corporation or LLC permanently gives up its right to make any claims related to the payment bond for that specific progress payment. It is important for corporations and LCS to thoroughly review and understand the terms and conditions stated in the Orange Florida Waiver of Right to Claim Against the Payment Bond (Progress Payment) — Corporation or LLC before signing it. Seeking legal advice is also recommended ensuring full comprehension and compliance with the document. In summary, the Orange Florida Waiver of Right to Claim Against the Payment Bond (Progress Payment) — Corporation or LLC is a legally binding agreement that ensures timely payments for contractors and subcontractors. By waiving their right to make claims against the payment bond, corporations and LCS can facilitate smoother construction projects and maintain positive working relationships with contractors.

Orange Florida Waiver of Right to Claim Against the Payment Bond (Progress Payment) — Corporation or LLC is a legal document that serves as a written agreement between a corporation or limited liability company (LLC) and a contractor. It pertains specifically to the waiver of certain rights related to payment bonds and progress payments. The purpose of this waiver is to protect the interests of contractors and subcontractors by ensuring that they receive timely payments for the work they perform on a construction project. By signing this waiver, the corporation or LLC acknowledges and agrees to waive its right to make any claims against the payment bond for progress payments. There are two main types of Orange Florida Waiver of Right to Claim Against the Payment Bond (Progress Payment) — Corporation or LLC: 1. Conditional Waiver: This type of waiver is executed by the corporation or LLC upon receiving a progress payment from the contractor. It states that upon receipt of the payment, the corporation or LLC waives its right to make claims against the payment bond for that specific progress payment. However, this waiver is conditional and only effective once the payment clears the bank. 2. Unconditional Waiver: This type of waiver is executed by the corporation or LLC after receiving the progress payment and once the payment has cleared the bank. By signing this waiver, the corporation or LLC permanently gives up its right to make any claims related to the payment bond for that specific progress payment. It is important for corporations and LCS to thoroughly review and understand the terms and conditions stated in the Orange Florida Waiver of Right to Claim Against the Payment Bond (Progress Payment) — Corporation or LLC before signing it. Seeking legal advice is also recommended ensuring full comprehension and compliance with the document. In summary, the Orange Florida Waiver of Right to Claim Against the Payment Bond (Progress Payment) — Corporation or LLC is a legally binding agreement that ensures timely payments for contractors and subcontractors. By waiving their right to make claims against the payment bond, corporations and LCS can facilitate smoother construction projects and maintain positive working relationships with contractors.