This Waiver And Release Of Lien Upon Progress Payment form is for use by an individual lienor to waive and release his or her 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.
A Pompano Beach Florida Waiver and Release of Lien Upon Progress Payment Form for construction projects is an essential legal document used to protect the rights of contractors, subcontractors, and suppliers in the payment process. This form acts as a receipt for the progress payment made and serves as a waiver of future lien rights upon receipt of the payment. By signing this form, the individual contractor or supplier acknowledges receiving the payment and voluntarily waives their right to file a mechanic's lien for the work and materials covered by the payment. Different types of Pompano Beach Florida Waiver and Release of Lien Upon Progress Payment Forms may include: 1. Conditional Waiver and Release: This type of waiver and release is typically used when the progress payment being made is conditional. It means that if the payment is not honored or funds are not available, the waiver and release become null and void. 2. Unconditional Waiver and Release: This type of waiver and release is used when the progress payment being made is unconditional. It means that the contractor or supplier waives their lien rights entirely upon receiving the payment, regardless of any future circumstances. 3. Partial Waiver and Release: This type of waiver and release is used when the progress payment being made covers only a portion of the total project cost. The contractor or supplier waives their lien rights to the extent of the payment received, leaving the remaining portion potentially subject to future liens. 4. Final Waiver and Release: This type of waiver and release is used when the progress payment being made represents the final payment for the project. By signing this form, the contractor or supplier waives all lien rights for the entire project upon receipt of the final payment. It is crucial for contractors, subcontractors, and suppliers involved in construction projects in Pompano Beach, Florida, to familiarize themselves with the specific requirements of the applicable waiver and release forms. Using the appropriate form, tailored to their specific situation and payment arrangement, ensures compliance with local laws and protects their rights to receive payment without incurring any future disputes or potential legal action.
