What does "Upon Progress Payment" mean in reference to a lien release?
Full Question:
What does "Upon Progress Payment" mean in reference to a lien release?
07/26/2007 |
Category: Liens |
State: Florida |
#7496
Answer:
A progress payment is a payment specified in a contract to be paid before the work is complete, but upon a specified percentage or stage of completeness. When the progress payment is received by the contractor, they may release a claim of lien.
