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.
A New York Non-Waiver Agreement between Contractor and Owner Regarding Accepting Late Payments is a legally binding document that outlines the conditions and terms agreed upon by both parties in relation to accepting late payments. This agreement is essential to ensure a smooth and fair business transaction between a contractor and an owner in the state of New York. By including specific keywords, we can provide a more targeted and relevant description. Keywords: New York, Non-Waiver Agreement, Contractor, Owner, Late Payments, Accepting, Conditions, Terms, Business Transaction. Types of New York Non-Waiver Agreements between Contractor and Owner Regarding Accepting Late Payments: 1. Standard New York Non-Waiver Agreement: This type of agreement is the most common and establishes the general terms under which the contractor agrees to accept late payments from the owner. It typically includes standard provisions and clauses that outline the consequences and obligations for both parties. 2. New York Non-Waiver Agreement with Revised Payment Schedule: This agreement is beneficial when the contractor and the owner agree to modify the payment schedule due to unforeseen circumstances or other factors impacting the project's progress. It outlines the revised terms and conditions for accepting late payments. 3. New York Non-Waiver Agreement with Penalty Clause: This type of agreement includes a penalty clause that specifies the penalties or interest charges imposed on the owner for late payments. It provides incentives for prompt payment and discourages delays in payment. 4. New York Non-Waiver Agreement with Alternative Payment Options: Sometimes, the contractor and owner may agree to alternative payment methods or installment options to accommodate the owner's financial capacity. This agreement outlines the agreed-upon alternative payment arrangements and associated terms. 5. New York Non-Waiver Agreement with Exemption for Excusable Delays: In certain cases where delays in payment are excusable, such as force majeure events or other valid reasons, this agreement provides specific exemptions for late payments within defined circumstances. It redefines the conditions under which late payments will be accepted. Overall, a New York Non-Waiver Agreement between Contractor and Owner Regarding Accepting Late Payments ensures a fair and mutually agreed-upon approach to resolving any late payment issues or delays, promoting a transparent and efficient business relationship between the parties involved.
