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.
Fairfax Virginia Non-Waiver Agreement A Fairfax Virginia Non-Waiver Agreement is a legally binding document between a contractor and an owner pertaining to late payment acceptance in a construction project. This agreement protects the rights and interests of both parties involved in the contract. In Fairfax, Virginia, various types of Non-Waiver Agreements can exist between contractors and owners regarding accepting late payments. These include: 1. Standard Fairfax Virginia Non-Waiver Agreement: This agreement outlines the general conditions and terms regarding late payment acceptance. It includes provisions such as a grace period, penalties for late payments, and any additional fees associated with late payment acceptance. 2. Fairfax Virginia Non-Waiver Agreement with Additional Clauses: This agreement includes specific clauses addressing unique circumstances or concerns that may arise during the construction project. These additional clauses can cover aspects such as partial payment acceptance, liquidated damages, suspensions, and termination of the contract due to persistent late payments. 3. Fairfax Virginia Non-Waiver Agreement for Residential Projects: In residential construction projects, certain provisions may differ from commercial projects. This agreement caters specifically to the requirements and regulations associated with residential construction, including ensuring compliance with the Virginia Residential Construction Act. 4. Fairfax Virginia Non-Waiver Agreement for Commercial Projects: On the other hand, commercial construction projects have their specific considerations. This agreement addresses the distinct requirements of commercial construction, including compliance with the Virginia Uniform Commercial Code and any local zoning ordinances. 5. Fairfax Virginia Non-Waiver Agreement with Mediation or Arbitration Clause: Some contractors and owners might prefer including a mediation or arbitration clause within the Non-Waiver Agreement. This clause outlines the procedures to resolve any disputes related to late payments outside the court system, promoting efficient and cost-effective resolutions. Regardless of the type, a Fairfax Virginia Non-Waiver Agreement typically includes key elements, such as the names and contact information of the parties involved, project details, payment terms, late payment acceptance conditions, interest rates, penalties, procedures for dispute resolution, and any applicable local, state, and federal laws or regulations. It is crucial for both contractors and owners in Fairfax, Virginia, to have a Non-Waiver Agreement in place regarding accepting late payments. This protects their financial interests and promotes transparency in construction projects, ensuring parties comply with their obligations and responsibilities.Fairfax Virginia Non-Waiver Agreement A Fairfax Virginia Non-Waiver Agreement is a legally binding document between a contractor and an owner pertaining to late payment acceptance in a construction project. This agreement protects the rights and interests of both parties involved in the contract. In Fairfax, Virginia, various types of Non-Waiver Agreements can exist between contractors and owners regarding accepting late payments. These include: 1. Standard Fairfax Virginia Non-Waiver Agreement: This agreement outlines the general conditions and terms regarding late payment acceptance. It includes provisions such as a grace period, penalties for late payments, and any additional fees associated with late payment acceptance. 2. Fairfax Virginia Non-Waiver Agreement with Additional Clauses: This agreement includes specific clauses addressing unique circumstances or concerns that may arise during the construction project. These additional clauses can cover aspects such as partial payment acceptance, liquidated damages, suspensions, and termination of the contract due to persistent late payments. 3. Fairfax Virginia Non-Waiver Agreement for Residential Projects: In residential construction projects, certain provisions may differ from commercial projects. This agreement caters specifically to the requirements and regulations associated with residential construction, including ensuring compliance with the Virginia Residential Construction Act. 4. Fairfax Virginia Non-Waiver Agreement for Commercial Projects: On the other hand, commercial construction projects have their specific considerations. This agreement addresses the distinct requirements of commercial construction, including compliance with the Virginia Uniform Commercial Code and any local zoning ordinances. 5. Fairfax Virginia Non-Waiver Agreement with Mediation or Arbitration Clause: Some contractors and owners might prefer including a mediation or arbitration clause within the Non-Waiver Agreement. This clause outlines the procedures to resolve any disputes related to late payments outside the court system, promoting efficient and cost-effective resolutions. Regardless of the type, a Fairfax Virginia Non-Waiver Agreement typically includes key elements, such as the names and contact information of the parties involved, project details, payment terms, late payment acceptance conditions, interest rates, penalties, procedures for dispute resolution, and any applicable local, state, and federal laws or regulations. It is crucial for both contractors and owners in Fairfax, Virginia, to have a Non-Waiver Agreement in place regarding accepting late payments. This protects their financial interests and promotes transparency in construction projects, ensuring parties comply with their obligations and responsibilities.