This office lease provision states that the landlord and the tenant mutually acknowledge a good faith estimate, but that only the real estate brokerage fee has actually been determined. Thereafter, the agreed upon sum will be adjusted, increased or decreased, accordingly to reflect the actual sum once determined.
Florida Provision to Include Final Billing is a crucial element in contracts, specifically in construction or residential agreements. It ensures that all financial transactions are accurately recorded and settled before the project's completion or termination. This provision dictates the terms and conditions related to final billing and ensures transparency and clarity in the process. In the state of Florida, there are various types of provisions that can be included in contracts to safeguard the interests of both parties involved. Some prominent types of Florida Provision to Include Final Billing are: 1. Itemized Billing Provision: This provision requires the contractor to provide a detailed breakdown of all costs incurred during the project. It includes labor charges, material expenses, subcontractor fees, and any additional charges. By incorporating this provision, it becomes easier to analyze and verify the accuracy of the final billing. 2. Retain age Provision: Retain age is a common practice in construction contracts. This provision allows the client to withhold a certain percentage of the total payment as security until the project is complete. The retained funds serve as protection against potential defects, delays, or any outstanding payments to subcontractors. The final billing accounts for the release of retain age upon fulfilling the predefined conditions. 3. Progress Payment Provision: In long-term projects, it is common for contractors to receive periodic payments based on the project's progress. The progress payment provision outlines the schedule and conditions under which these payments are to be made. The final billing ensures that all progress payments have been properly accounted for, leaving no outstanding amounts. 4. Dispute Resolution Provision: This provision addresses disputes or discrepancies that may arise during the final billing process. It encourages alternative dispute resolution methods, such as mediation or arbitration, to settle any disagreements. Including this provision in contracts offers a structured approach to resolving billing-related conflicts, ensuring a smoother final billing process. These types of Florida Provision to Include Final Billing enhance the contractual relationship between parties, promote transparency, and ensure that all financial aspects are diligently accounted for. It is essential for both contractors and clients alike to familiarize themselves with these provisions to avoid any potential misunderstandings or disputes.
