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.
South Dakota Non-Waiver Agreement between Contractor and Owner Regarding Accepting Late Payments serves as a legally binding document that outlines the terms and conditions under which late payments will be accepted by the contractor from the owner. It addresses the potential delay in payment and ensures that both parties agree upon specific guidelines to prevent any disputes or conflicts. In South Dakota, there are various types of Non-Waiver Agreements between contractors and owners that involve accepting late payments. Some common variations are as follows: 1. Standard South Dakota Non-Waiver Agreement: This type of agreement outlines the standard terms and conditions to account for late payments. It specifies the grace period, penalties, or interest charges, and the process to be followed if a payment is not made within the agreed-upon timeframe. By signing this type of agreement, both parties acknowledge their understanding and acceptance of these terms. 2. South Dakota Non-Waiver Agreement with Negotiated Terms: In situations where the contractor and owner want to define specific conditions for accepting late payments, a customized Non-Waiver Agreement with negotiated terms can be established. This agreement may include unique provisions, such as the contractor receiving partial payments during an extended project timeline or specifying alternative methods to penalize late payments. 3. South Dakota Non-Waiver Agreement for Emergency Situations: In some cases, unforeseen circumstances may cause payment delays that are beyond the owner's control. This agreement type acknowledges such emergencies and sets forth a different set of guidelines that the contractor agrees to consider when accepting late payments. These agreements may require the owner to provide valid documentation or evidence of the emergency. Regardless of the specific type, the South Dakota Non-Waiver Agreement between Contractor and Owner Regarding Accepting Late Payments typically includes key information such as: — Identification of parties involved (contractor and owner). — Project details or agreement reference. — Payment terms and timelines— - Grace period for late payments (if applicable). — Consequences or penalties for late payments. — Mechanism for dispute resolution— - Signatures of both parties, indicating their consent and understanding of the agreement. It is essential for both contractors and owners to thoroughly review and comprehend the terms of the Non-Waiver Agreement before signing it. Seeking professional legal advice is recommended to ensure compliance with South Dakota laws and to protect the rights and interests of both parties.South Dakota Non-Waiver Agreement between Contractor and Owner Regarding Accepting Late Payments serves as a legally binding document that outlines the terms and conditions under which late payments will be accepted by the contractor from the owner. It addresses the potential delay in payment and ensures that both parties agree upon specific guidelines to prevent any disputes or conflicts. In South Dakota, there are various types of Non-Waiver Agreements between contractors and owners that involve accepting late payments. Some common variations are as follows: 1. Standard South Dakota Non-Waiver Agreement: This type of agreement outlines the standard terms and conditions to account for late payments. It specifies the grace period, penalties, or interest charges, and the process to be followed if a payment is not made within the agreed-upon timeframe. By signing this type of agreement, both parties acknowledge their understanding and acceptance of these terms. 2. South Dakota Non-Waiver Agreement with Negotiated Terms: In situations where the contractor and owner want to define specific conditions for accepting late payments, a customized Non-Waiver Agreement with negotiated terms can be established. This agreement may include unique provisions, such as the contractor receiving partial payments during an extended project timeline or specifying alternative methods to penalize late payments. 3. South Dakota Non-Waiver Agreement for Emergency Situations: In some cases, unforeseen circumstances may cause payment delays that are beyond the owner's control. This agreement type acknowledges such emergencies and sets forth a different set of guidelines that the contractor agrees to consider when accepting late payments. These agreements may require the owner to provide valid documentation or evidence of the emergency. Regardless of the specific type, the South Dakota Non-Waiver Agreement between Contractor and Owner Regarding Accepting Late Payments typically includes key information such as: — Identification of parties involved (contractor and owner). — Project details or agreement reference. — Payment terms and timelines— - Grace period for late payments (if applicable). — Consequences or penalties for late payments. — Mechanism for dispute resolution— - Signatures of both parties, indicating their consent and understanding of the agreement. It is essential for both contractors and owners to thoroughly review and comprehend the terms of the Non-Waiver Agreement before signing it. Seeking professional legal advice is recommended to ensure compliance with South Dakota laws and to protect the rights and interests of both parties.
