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A contractor that's not bonded or insured should he sign a waiver?
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Why would a contractor want to have the owner and the contractor on a waiver of subrogation?
When building a project financed by a construction loan, for example, a waiver would release the right of an insurer's contractual right to take legal action against a third party responsible for a loss to an insured for which a claim has been paid (Suppliers).
Can a customer sue a contractor working under a waiver?
NO.
What is a subcontractor release of lien?
this is a waiver of lien by contractor, subcontractor, or supplier.
Can a general contractor put a lien on your house?
Yes. It is important to get original lien waivers each time you pay your contractor (do not give a check in exchange for a promise of a waiver). A waiver is a receipt of your payment and it is legal documentation that your contractor has paid the subcontractor or supplier. The waiver prevents the contractor and subcontractor from from liening your property for that amount of the payment on that subcontract. Partial lien waivers should detail the type of work done, the name and address of the subcontractor, the total amount of the subcontract, the amount paid to date, the amount of the current payment made, and the balance to be paid. At the end of the project, it is equally important to get final waivers of lien, as well.
What does waiver of subrogation mean?
A waiver of subrogation in commercial insurance means that you waive the right for your insurance company to collect reimbursement from the insurance company of the other party. An example would be a subcontractor who is injured by the actions of someone in the employ of the general contractor. If a waiver of subrogation was included in the insurance policy, the subcontractor has given up the right to collect from the insurance company of the general contractor.
When a contractor purchases a door to be replaced should he give the homeowner the receipt for the door?
It depends on the contracting and mechanic's lien laws in your state and your arrangements with the contractor. If you hire a contractor to "replace a door, labor and materials included" for a flat price, the job will include a factor for the time and expense to go and order or get the door and get it to your property, taxes and delivery charges included. Now when the contractor wants to get paid, and assuming you are in a state that requires the contractor to provide you will a waiver of mechanic's lien rights, the waiver should include information about the materials because the material provider may also have lien rights, and you will be looking to the contractor to "protect you" from those rights if it turns out the contractor got the door on credit and then didn't pay for it and the door seller traces it to your property. In that case the exact amount of the door may be irrelevant as long as its costs are part of the lien waiver. If the facts are different, or you are in a state where all relevant information about a job is to be provided to you, then perhaps yes. You need to check your state's laws regarding contracting for things like this and mechanic lien rights and how to protect yourself against lien claims.
What is the wording in a non waiver agreement?
a non waiver agreement is a bi-lateral agreement between an Insured(policy holder) and the insuror(ins company) alerting both of a POSSIBLE coverage issue. This document is typically executed with the Insured prior to commencing with an investigation into an insurance claim the insured has submitted for coverage. The purpose of the non-waiver is to place the Insured on notice of potential coverage issue(s) that will be sorted out by the ins. co as the investigation proceeds. In a practical sense, it avoids the senario of the insured ASSUMING coverage is afforded for a submitted loss/claim and then subsequently finding out days, weeks or perhaps months later that coverage was denied based upon what was revealed during the investigation. A Resevation of Rights accomplishes similar but is more forceful.
What is a waiver of cost rider?
In Utah a Waiver of Cost Rider is found in some Universal Life policies; it removes the requirement for the Policy owner to pay the cost of insurance (but not the cost to grow Cash Value) if the Insured becomes totally disabled.
Can a homeowner acting as the general contractor be sued by a sub-contractor in Florida?
It depends. if they are sueing you for non payment and its ur fault then yes. but if the insurance company holds the money and th contractors sign a waiver lien then no. they do that just to intimidate you.
What is a waiver of premium with disability income?
Waiver of premium suspends the need to make premium payments during the time when you are disabled. A waiver of premium provision is not automatic with every policy. Instead, it is an option that one may be able to select in return for an additional premium. Frequently, the definition of "disability" for purposes of triggering the waiver of premium provision is different (often more strict) than the degree of disability needed to collect benefits under the policy. For example, one may be entitled to collect disability payments if he/she is unable to pursue his/her "own occupation" (meaning, some other type of job will not disqualify the insured), whereas the insured might have to be unable to perform "any occupation" in order for the waiver of premium to be triggered.
What is a waiver of subrogation?
A Waiver of Subrogation is a specific kind of endorsement on property-causal insurance policies. It keeps the insurer from trying to get restitution from third parties who cause a loss to the insured party.
Is collision damage waiver the same as under insured motorist protection?
CDW/LDW is a waiver, the rental car companies agrees not to go after the renter for any damages to the rental car (regardless of fault) if you purchase the waiver for a daily fee. As long as the renter does not violate the contract. If someone else is at fault they will then go after that person. It only covers the rental car, nothing else is covered
