Virginia Code 11-4.1:1: Waiver of payment bond claims and contract claims; construction contracts
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A subcontractor as defined in § 43-1, lower-tier subcontractor, or material supplier may not waive or diminish his right to assert payment bond claims or his right to assert claims for demonstrated additional costs in a contract in advance of furnishing any labor, services, or materials. A provision that waives or diminishes a subcontractor’s, lower-tier subcontractor’s, or material supplier’s right to assert payment bond claims or his right to assert claims for demonstrated additional costs in a contract executed prior to providing any labor, services, or materials is null and void.
Terms Used In Virginia Code 11-4.1:1
- Contract: A legal written agreement that becomes binding when signed.
2015, c. 748.