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Unconditional final waiver final payment – The safest waiver for owners, this waiver generally releases all rights of the claimant to place a mechanics lien on the owners property unconditionally. It is immaterial if the payment check has been returned or stopped payment. Claimants should issue this type of release only when they are positive ...
A lien release, also known as a release of lien or a cancellation of lien, is a document that may be voluntarily provided by a lien claimant, such as a subcontractor, in exchange for payment or a promise of payment from a general contractor or a property owner. Negotiations may be tricky, as lien claimants generally want to be paid before they ...
Clients withhold retention against main contractors and main contractors withhold payment against sub-contractors. [3]: 16 Retentions typically take the form of a percentage on the contract value. [3]: 18 The rate can vary wildly but is typically around 5%. The general state of the economy can affect the rates set: in a buoyant economy with ...
In law, set-off or netting is a legal technique applied between persons or businesses with mutual rights and liabilities, replacing gross positions with net positions. [1] [2] It permits the rights to be used to discharge the liabilities where cross claims exist between a plaintiff and a respondent, the result being that the gross claims of mutual debt produce a single net claim. [3]
Bottom line. Ultimately, whether you can retire on less than $1 million will largely depend on your spending needs during retirement and your remaining life expectancy.
They include payment of the claims, waiver, laches, foreclosure, and sale or destruction of the res. The lienholder could give up the right of maritime lien either by expressed or implied intention. The intention to waive the lien should be shown clearly required by the court and the credit of the lienholder will be considered.
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