Forfeiture occurs when a person is in breach of a legal obligation, and the breach causes something to be lost or surrendered as a result of the breach. This form is for illustrative purposes only. Local laws should be consulted to determine any specific requirements for such a notice in a particular jurisdiction.
Idaho Demand for Payment Due Pursuant to an Agreement with Notice that Failure to Pay Will Cause a Forfeiture to be Declared
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Multi-State
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US-00931BG
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Word;
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How to fill out Demand For Payment Due Pursuant To An Agreement With Notice That Failure To Pay Will Cause A Forfeiture To Be Declared?
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FAQ
67-2320. Professional service contracts with design professionals, construction managers, and professional land surveyors.
67-9230. prohibitions. (1) No contract or any interest therein shall be transferred by the contractor to whom such contract is given to any other party without approval in writing by the administrator and by the board of examiners pursuant to section 67-1027, Idaho Code.
Idaho's prompt payment laws only regulate payments from the public entity to the prime contractor. Once the prime has submitted a proper payment request, the public entity must accept, certify, and pay within 60 calendar days of receipt. However, this deadline may be modified by the contract between the parties.
It is the purpose of this act to permit the state and public agencies to make the most efficient use of their powers by enabling them to cooperate to their mutual advantage and thereby provide services and facilities and perform functions in a manner that will best with geographic, economic, population, and ...
(1) It is the policy of this state that all bills owed by the state of Idaho or any taxing district within the state shall be paid promptly. No state agency or taxing district supported in whole or in part by tax revenues shall be exempt from the provisions of this section, except as provided in subsection (20).
67-2602. ADMINISTRATOR OF THE DIVISION OF OCCUPATIONAL AND PROFESSIONAL LICENSES. The division of occupational and professional licenses shall be headed by an administrator appointed by the governor and who shall serve at the pleasure of the governor.
The law allows liquidated damage provisions, provided that the provision for such damage is not intended as a penalty or punishment and bears a reasonable relation to the damages that might actually be sustained if the contract is breached.
