Tag: conditional release on payment

Is Prompt Payment a Requirement? A Mistake Can Cost You.

There is a little known but powerful tool for subcontractors and suppliers.  It allows them to seek immediate payment on undisputed contract obligations due on public projects from contractors who have already been paid. Prompt Payment on Public Jobs. While a contractor may find it preferable for cash flow reasons to simply keep a subcontractor waiting, even after receiving payment for its portion of the work from the municipality or public entity, it is neither legal nor smart.  Contractors would do well to heed the rulings by Florida’s courts which have made clear that ignoring the prompt payment statute comes ... Read more

Conditional Waiver and Release of Lien Upon Final Payment [FORM]

(Consult an attorney before using this form or relying on this information)   CONDITIONAL WAIVER AND RELEASE OF LIEN UPON FINAL PAYMENT The undersigned lienor, in consideration of the sum of $_____ [insert actual amount to be paid, not $10] to be paid and expressly subject thereto will waive and release its lien and right to claim a lien for labor, services, or materials furnished to (insert the name of your customer) on the job of (insert the name of the owner) to the following property: (description of property) This waiver and release is expressly conditioned upon the undersigned’s actual receipt ... Read more

Conditional Waiver and Release of Lien Upon Partial/Progress Payment [FORM]

(Consult an attorney before using this form or relying on this information)   CONDITIONAL WAIVER AND RELEASE OF LIEN UPON PROGRESS PAYMENT The undersigned lienor, in consideration of the sum of $_____ [insert actual amount to be paid, not $10] to be paid and expressly subject thereto will waive and release its lien and right to claim a lien for labor, services, or materials furnished through (insert date) to (insert the name of your customer) on the job of (insert the name of the owner) to the following property: (description of property) This waiver and release does not cover any ... Read more