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This document serves as a release from a Stop Notice concerning a construction project, acknowledging receipt of good and valuable consideration and detailing the parties involved.
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How to fill out release of stop notice
How to fill out RELEASE OF STOP NOTICE & CLAIM ON BOND
01
Obtain the 'Release of Stop Notice & Claim on Bond' form from a reliable source or your local government office.
02
Enter the project name and address at the top of the form.
03
Fill in your name and contact information as the claimant.
04
Provide the bond number and the amount of the bond related to your claim.
05
Clearly state the reason for the release of the stop notice.
06
Sign and date the form to certify the information provided.
07
Submit the completed form to the appropriate party or agency involved in the project.
Who needs RELEASE OF STOP NOTICE & CLAIM ON BOND?
01
Contractors who have filed a stop notice on a project.
02
Subcontractors or suppliers who have not been paid and wish to release their claim on the bond.
03
Property owners who want to ensure that payments are placed in escrow until disputes are resolved.
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What is RELEASE OF STOP NOTICE & CLAIM ON BOND?
RELEASE OF STOP NOTICE & CLAIM ON BOND is a legal document that formally releases a stop notice and a claim made against a bond in relation to a construction project. It signifies that any claims or liens on the project have been resolved.
Who is required to file RELEASE OF STOP NOTICE & CLAIM ON BOND?
Typically, the party who has previously filed a stop notice or a claim against the bond is required to file the RELEASE OF STOP NOTICE & CLAIM ON BOND, often a subcontractor or supplier seeking payment.
How to fill out RELEASE OF STOP NOTICE & CLAIM ON BOND?
To fill out the form, one must provide relevant information such as project details, parties involved, descriptions of the claims, and signatures of those authorized to release the claims.
What is the purpose of RELEASE OF STOP NOTICE & CLAIM ON BOND?
The purpose is to formally acknowledge that the claims have been settled and to clear any encumbrances against the construction project, thereby allowing work to proceed uninterrupted.
What information must be reported on RELEASE OF STOP NOTICE & CLAIM ON BOND?
The information typically reported includes the names and addresses of the claimant and the bond principal, project description, details of the original stop notice or claim, and a statement releasing those claims.
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