Hi Abraham, does the bottom of the cut on the spar have to follow exactly the shape of the rib (such as if you're putting on a skin of a specific thickness)? Or can it be flat?
Assuming flat is OK, the jig you show looks fine, except that I'd put in adjustable guides (or stops) on the ends so that you don't cut into the ribs. You don't really need accurate spanwise guides (the dark wood in your jig), because you're removing the full width of the spar.
You may have mentioned this in another thread, but what airplane are you building?