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.
Travis Texas Non-Waiver Agreement is a legally binding contract between a contractor and an owner that outlines the terms and conditions regarding accepting late payments. This agreement is specifically designed for construction projects in Travis County, Texas. In the Travis Texas Non-Waiver Agreement, both the contractor and owner acknowledge that late payments may occur and agree on a specific set of rules to mitigate any potential disputes or financial losses. The agreement emphasizes the importance of timely payments while providing a framework for resolving payment delays. Keywords: Travis Texas, Non-Waiver Agreement, Contractor, Owner, Late Payments, Construction Projects, Terms and Conditions, Disputes, Financial Losses, Timely Payments, Payment Delays, Contractual Obligations. Different Types of Travis Texas Non-Waiver Agreement between Contractor and Owner Regarding Accepting Late Payments: 1. Lump-Sum Payment Variation: This type of agreement outlines a fixed payment schedule with specific due dates and penalties for late payments. It clearly defines the contractor's entitlement to receive payment only upon successful completion of project milestones. 2. Installment Payment Variation: This agreement allows for payment to be made in intervals or installments rather than in a lump sum. It will include a detailed payment plan, outlining the amounts due at each interval, due dates, and any penalties for late payments. 3. Milestone-Based Payment Variation: This type of agreement links payments directly to project milestones, such as completion of certain phases or stages of the construction project. The agreement defines the specific conditions under which payment will be made based on predefined milestones. 4. Retain age Agreement: This agreement addresses the withholding of a certain percentage of the total payment until the completion of the project. It safeguards the owner's interests and ensures that the contractor fulfills all contractual obligations before receiving full payment. 5. Partial Payment Variation: This agreement sets forth the terms for partial payments being made by the owner to the contractor for completed work or materials supplied. It establishes the conditions and timetable for partial payments during the project's duration. By using the appropriate Travis Texas Non-Waiver Agreement variation, contractors and owners can effectively manage the challenges associated with late payments, foster transparency, and mitigate potential risks, ultimately ensuring a smooth construction project experience for all parties involved.Travis Texas Non-Waiver Agreement is a legally binding contract between a contractor and an owner that outlines the terms and conditions regarding accepting late payments. This agreement is specifically designed for construction projects in Travis County, Texas. In the Travis Texas Non-Waiver Agreement, both the contractor and owner acknowledge that late payments may occur and agree on a specific set of rules to mitigate any potential disputes or financial losses. The agreement emphasizes the importance of timely payments while providing a framework for resolving payment delays. Keywords: Travis Texas, Non-Waiver Agreement, Contractor, Owner, Late Payments, Construction Projects, Terms and Conditions, Disputes, Financial Losses, Timely Payments, Payment Delays, Contractual Obligations. Different Types of Travis Texas Non-Waiver Agreement between Contractor and Owner Regarding Accepting Late Payments: 1. Lump-Sum Payment Variation: This type of agreement outlines a fixed payment schedule with specific due dates and penalties for late payments. It clearly defines the contractor's entitlement to receive payment only upon successful completion of project milestones. 2. Installment Payment Variation: This agreement allows for payment to be made in intervals or installments rather than in a lump sum. It will include a detailed payment plan, outlining the amounts due at each interval, due dates, and any penalties for late payments. 3. Milestone-Based Payment Variation: This type of agreement links payments directly to project milestones, such as completion of certain phases or stages of the construction project. The agreement defines the specific conditions under which payment will be made based on predefined milestones. 4. Retain age Agreement: This agreement addresses the withholding of a certain percentage of the total payment until the completion of the project. It safeguards the owner's interests and ensures that the contractor fulfills all contractual obligations before receiving full payment. 5. Partial Payment Variation: This agreement sets forth the terms for partial payments being made by the owner to the contractor for completed work or materials supplied. It establishes the conditions and timetable for partial payments during the project's duration. By using the appropriate Travis Texas Non-Waiver Agreement variation, contractors and owners can effectively manage the challenges associated with late payments, foster transparency, and mitigate potential risks, ultimately ensuring a smooth construction project experience for all parties involved.
