should i sign release before recieving payment?

[jessica143]

What is the name of your state? Florida

I was recently in an accident with a semi-truck. Their insurance company recently informed me that the truck company didn't want to file a claim and the trucking company were going to directly pay me the blue book value of the car . The amount the offered is fair, but they said I have to sign a release BEFORE they send me a check. The problem is this - the way the release is worded, I would be acknowledging receipt of payment when I sign. ( ....the sum of $1,825, the reciept of which is hereby acknowledged, I, being of lawful age, do hereby release, acquit and forever discharge both [insurance co. and insured]). Wouldn't this leave me vulnerable if I sign it and send it in, and then never recieve payment? What should I do?

 

[Lynx 36]

What is the name of your state? Florida

I was recently in an accident with a semi-truck. Their insurance company recently informed me that the truck company didn't want to file a claim and the trucking company were going to directly pay me the blue book value of the car . The amount the offered is fair, but they said I have to sign a release BEFORE they send me a check. The problem is this - the way the release is worded, I would be acknowledging receipt of payment when I sign. ( ....the sum of $1,825, the reciept of which is hereby acknowledged, I, being of lawful age, do hereby release, acquit and forever discharge both [insurance co. and insured]). Wouldn't this leave me vulnerable if I sign it and send it in, and then never recieve payment? What should I do?

Meet w/ them in person to sign it.

 

[jessica143]

The trucking and insurance company are both in Michigan and I live in Florida, so everything has to be done via mail.

 

[Lynx 36]

The trucking and insurance company are both in Michigan and I live in Florida, so everything has to be done via mail.

Generally a release states that upon payment of blah, blah, blah, so and so releases xyz co., the driver, etc.

When you sign the release it shouldn't be valid until you receive payment. You can have an atty look over the release (this will cost money) or you can play hardball and refuse to sign anything unless it's done in person. Make them fly to FL to settle w/ you. If not call a claim into their insurance co.

I would be hesitant to sign a release before getting the check as well. Just make sure you read carefully how it's worded if you decide to sign.

 

[teflon_jones]

If you're wary of signing the release because of the wording, then ask them to change the wording. Or, you could sign it, but hand write in something at the end like "This agreement is not valid until the check in the amount of $XXXX provided for the damages has been received and deposited by (your name)". Initial this edit and sign the document, then make a couple of copies for yourself and send it back.