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 Santa Clara California Non-Waiver Agreement between Contractor and Owner Regarding Accepting Late Payments is a legal document that outlines the terms and conditions under which late payments will be accepted by the contractor from the owner. This agreement is drafted to protect the rights and interests of both parties involved in a construction project in Santa Clara, California. In this agreement, the contractor and the owner agree to certain provisions regarding late payments. They aim to establish a clear understanding of the consequences, responsibilities, and expectations related to late payments on the part of the owner. The Santa Clara California Non-Waiver Agreement between Contractor and Owner Regarding Accepting Late Payments may be of different types, each with specific variations and conditions. Some examples include: 1. Fixed Deadline Non-Waiver Agreement: This type of agreement sets a fixed deadline within which the owner must make payments to the contractor. It states that late payments will not be waived, and penalties or interest charges will be imposed if payments are not made on time. 2. Flexible Deadline Non-Waiver Agreement: In this type of agreement, the specific deadline for payment is not fixed. Instead, the contractor and owner agree on a mutually acceptable timeframe within which payments should be made. Late payments will still be subject to penalties, but the agreement allows for some flexibility based on the circumstances. 3. Partial Payment Non-Waiver Agreement: This agreement type addresses situations where the owner can only make partial payments within the agreed-upon timeframe. It specifies how these partial payments will be applied and acknowledges that the remaining balance will still be subject to penalties or interest charges if not paid on time. 4. Conditional or Performance-based Non-Waiver Agreement: This type of agreement may be relevant when the owner has a justifiable reason for late payments, such as lack of certification of work completion or unresolved issues with the contractor's performance. It outlines conditions that must be met by either party before late payment penalties can be waived. Ultimately, a Santa Clara California Non-Waiver Agreement between Contractor and Owner Regarding Accepting Late Payments aims to maintain a fair and balanced approach to late payments. It encourages timely payments while providing guidelines and consequences for both parties involved, ensuring that the contractual obligations are met while addressing any challenges that may arise.A Santa Clara California Non-Waiver Agreement between Contractor and Owner Regarding Accepting Late Payments is a legal document that outlines the terms and conditions under which late payments will be accepted by the contractor from the owner. This agreement is drafted to protect the rights and interests of both parties involved in a construction project in Santa Clara, California. In this agreement, the contractor and the owner agree to certain provisions regarding late payments. They aim to establish a clear understanding of the consequences, responsibilities, and expectations related to late payments on the part of the owner. The Santa Clara California Non-Waiver Agreement between Contractor and Owner Regarding Accepting Late Payments may be of different types, each with specific variations and conditions. Some examples include: 1. Fixed Deadline Non-Waiver Agreement: This type of agreement sets a fixed deadline within which the owner must make payments to the contractor. It states that late payments will not be waived, and penalties or interest charges will be imposed if payments are not made on time. 2. Flexible Deadline Non-Waiver Agreement: In this type of agreement, the specific deadline for payment is not fixed. Instead, the contractor and owner agree on a mutually acceptable timeframe within which payments should be made. Late payments will still be subject to penalties, but the agreement allows for some flexibility based on the circumstances. 3. Partial Payment Non-Waiver Agreement: This agreement type addresses situations where the owner can only make partial payments within the agreed-upon timeframe. It specifies how these partial payments will be applied and acknowledges that the remaining balance will still be subject to penalties or interest charges if not paid on time. 4. Conditional or Performance-based Non-Waiver Agreement: This type of agreement may be relevant when the owner has a justifiable reason for late payments, such as lack of certification of work completion or unresolved issues with the contractor's performance. It outlines conditions that must be met by either party before late payment penalties can be waived. Ultimately, a Santa Clara California Non-Waiver Agreement between Contractor and Owner Regarding Accepting Late Payments aims to maintain a fair and balanced approach to late payments. It encourages timely payments while providing guidelines and consequences for both parties involved, ensuring that the contractual obligations are met while addressing any challenges that may arise.
