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.
Los Angeles California Non-Waiver Agreement between Contractor and Owner Regarding Accepting Late Payments is a legally binding document that outlines the terms and conditions agreed upon by both parties in the event of delayed payments. This agreement ensures that the contractor and the owner are protected, and their rights and obligations are clearly defined. The main purpose of this agreement is to establish guidelines for the acceptance of late payments and to prevent any misunderstandings or disputes between the contractor and the owner. It sets forth the agreed-upon terms for accepting late payments, including any applicable fees or penalties. There are different types of Los Angeles California Non-Waiver Agreements between Contractor and Owner Regarding Accepting Late Payments, which may include: 1. Standard Non-Waiver Agreement: This agreement outlines the general terms and conditions regarding the acceptance of late payments. It includes provisions for late payment penalties, interest rates, and grace periods. 2. Customized Non-Waiver Agreement: This type of agreement is tailored to specific projects or circumstances. It may include additional clauses or modifications to suit the unique needs of the contractor and the owner. 3. Subcontractor Non-Waiver Agreement: In cases where the contractor hires subcontractors, this agreement ensures that late payments from the owner to the contractor do not affect the subcontractor's payment timeline. It provides clarity and protection for all parties involved. 4. Service Provider Non-Waiver Agreement: This type of agreement is typically used when the contractor provides services rather than physical construction work. It outlines the terms for accepting late payments for services rendered, such as consulting, design, or maintenance work. Regardless of the specific type, all Los Angeles California Non-Waiver Agreements between Contractor and Owner Regarding Accepting Late Payments aim to protect both parties and maintain a mutually beneficial working relationship. It is important for all parties involved to carefully review and understand the terms outlined in the agreement before signing it.Los Angeles California Non-Waiver Agreement between Contractor and Owner Regarding Accepting Late Payments is a legally binding document that outlines the terms and conditions agreed upon by both parties in the event of delayed payments. This agreement ensures that the contractor and the owner are protected, and their rights and obligations are clearly defined. The main purpose of this agreement is to establish guidelines for the acceptance of late payments and to prevent any misunderstandings or disputes between the contractor and the owner. It sets forth the agreed-upon terms for accepting late payments, including any applicable fees or penalties. There are different types of Los Angeles California Non-Waiver Agreements between Contractor and Owner Regarding Accepting Late Payments, which may include: 1. Standard Non-Waiver Agreement: This agreement outlines the general terms and conditions regarding the acceptance of late payments. It includes provisions for late payment penalties, interest rates, and grace periods. 2. Customized Non-Waiver Agreement: This type of agreement is tailored to specific projects or circumstances. It may include additional clauses or modifications to suit the unique needs of the contractor and the owner. 3. Subcontractor Non-Waiver Agreement: In cases where the contractor hires subcontractors, this agreement ensures that late payments from the owner to the contractor do not affect the subcontractor's payment timeline. It provides clarity and protection for all parties involved. 4. Service Provider Non-Waiver Agreement: This type of agreement is typically used when the contractor provides services rather than physical construction work. It outlines the terms for accepting late payments for services rendered, such as consulting, design, or maintenance work. Regardless of the specific type, all Los Angeles California Non-Waiver Agreements between Contractor and Owner Regarding Accepting Late Payments aim to protect both parties and maintain a mutually beneficial working relationship. It is important for all parties involved to carefully review and understand the terms outlined in the agreement before signing it.
