Waiver and Release of Construction Lien (Progress Payment) (Florida)

This legal template, titled "Waiver and Release of Construction Lien (Progress Payment) (Florida)," is a document designed for individuals or companies involved in the construction industry in the state of Florida. It pertains specifically to the release of construction liens related to progress payments.

A construction lien is a legal claim enforced by contractors, subcontractors, or suppliers against a property to secure payment for labor, materials, or services provided during a construction project. However, when progress payments are made during the project, it may become necessary for the lien claimant to release their rights to a portion of the total contract amount in order to receive the payment.

This legal template provides the necessary framework for the waiver and release process, enabling parties involved to formally release and waive any lien claim on specific amounts received as progress payments. The document outlines the relevant parties, including the property owner, contractor or subcontractor, and the lien claimant.

It further defines the specific progress payment being made, referencing the original contract, project description, and payment amount. The document accurately identifies the lien claimant's rights and verifies their intention to release those rights upon receipt of the progress payment.

Additionally, the template may include other essential provisions to protect the interests of all involved parties. These may include provisions that confirm the lien claimant's compliance with all existing laws and regulations, confirmation of the receipt of payment, an acknowledgment of satisfaction, and a waiver of rights to any future claims or disputes related to the progress payment.

Ultimately, the "Waiver and Release of Construction Lien (Progress Payment) (Florida)" legal template offers an efficient and legally sound means for parties in the construction industry to release and waive specific construction liens bound to progress payments. When properly executed, this document serves as proof and safeguards against future disputes or legal actions related to withheld lien claims.