This form is a sample agreement between the owner of property and the contractor agreeing that acceptance by contractor of late payments as described in the agreement do not constitute a waiver of the right to receive timely payments pursuant to the agreement in the future.
Rhode Island Non-Waiver Agreement between Contractor and Owner Regarding Accepting Late Payments is a legally binding document designed to address the issue of delayed payments in a construction project. By signing this agreement, both the contractor and the owner acknowledge and agree to the terms and conditions outlined, ensuring a fair and equitable resolution for all parties involved. This agreement is particularly significant in Rhode Island, as it establishes guidelines for handling late payments while preserving the rights and obligations of both the contractor and the owner. Below are a few types of Rhode Island Non-Waiver Agreements that contractors and owners might encounter: 1. General Rhode Island Non-Waiver Agreement: This is the standard agreement used in Rhode Island that covers the acceptance of late payments in construction projects between contractors and owners. 2. Rhode Island Non-Waiver Agreement with Payment Plan: In some cases, the contractor and owner may negotiate a payment plan instead of accepting late payments outright. This agreement type outlines the terms and conditions of the payment plan, including the agreed-upon installment amounts, due dates, and interest rates, if applicable. 3. Rhode Island Non-Waiver Agreement with Late Payment Penalties: To further incentivize timely payments, contractors and owners can include provisions for late payment penalties. This agreement type specifies the penalties, such as additional charges or interest rates, that will be accrued if payments are not made on time. 4. Rhode Island Non-Waiver Agreement with Dispute Resolution Clause: In situations where disputes arise regarding late payments, a dispute resolution clause can be added to the agreement. This clause outlines the steps both parties must follow to attempt to resolve any issues through mediation, arbitration, or other agreed-upon methods. It is important for both contractors and owners in Rhode Island to understand their rights and obligations when it comes to accepting late payments to ensure a smooth construction process. By signing a Rhode Island Non-Waiver Agreement regarding late payments, both parties can protect their interests and establish clear expectations for payment schedules and consequences for any delays.Rhode Island Non-Waiver Agreement between Contractor and Owner Regarding Accepting Late Payments is a legally binding document designed to address the issue of delayed payments in a construction project. By signing this agreement, both the contractor and the owner acknowledge and agree to the terms and conditions outlined, ensuring a fair and equitable resolution for all parties involved. This agreement is particularly significant in Rhode Island, as it establishes guidelines for handling late payments while preserving the rights and obligations of both the contractor and the owner. Below are a few types of Rhode Island Non-Waiver Agreements that contractors and owners might encounter: 1. General Rhode Island Non-Waiver Agreement: This is the standard agreement used in Rhode Island that covers the acceptance of late payments in construction projects between contractors and owners. 2. Rhode Island Non-Waiver Agreement with Payment Plan: In some cases, the contractor and owner may negotiate a payment plan instead of accepting late payments outright. This agreement type outlines the terms and conditions of the payment plan, including the agreed-upon installment amounts, due dates, and interest rates, if applicable. 3. Rhode Island Non-Waiver Agreement with Late Payment Penalties: To further incentivize timely payments, contractors and owners can include provisions for late payment penalties. This agreement type specifies the penalties, such as additional charges or interest rates, that will be accrued if payments are not made on time. 4. Rhode Island Non-Waiver Agreement with Dispute Resolution Clause: In situations where disputes arise regarding late payments, a dispute resolution clause can be added to the agreement. This clause outlines the steps both parties must follow to attempt to resolve any issues through mediation, arbitration, or other agreed-upon methods. It is important for both contractors and owners in Rhode Island to understand their rights and obligations when it comes to accepting late payments to ensure a smooth construction process. By signing a Rhode Island Non-Waiver Agreement regarding late payments, both parties can protect their interests and establish clear expectations for payment schedules and consequences for any delays.
Para su conveniencia, debajo del texto en español le brindamos la versión completa de este formulario en inglés. For your convenience, the complete English version of this form is attached below the Spanish version.
