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 Wayne Michigan Non-Waiver Agreement between a contractor and owner regarding accepting late payments is an essential document that outlines the terms and conditions related to late payment acceptance. This agreement safeguards the rights and interests of both parties involved in a construction project or service contract. By establishing clear rules, expectations, and consequences, it helps maintain a smooth working relationship between the contractor and owner. In Wayne Michigan, there may be different types of Non-Waiver Agreements depending on the specific circumstances and preferences of the parties involved. Some of these variations may include: 1. General Wayne Michigan Non-Waiver Agreement: This type of agreement sets out the standard provisions and guidelines for accepting late payments. It defines the payment terms, grace periods, and any applicable late fees to be imposed. 2. Wayne Michigan Non-Waiver Agreement with a Temporary Payment Plan: In situations where the owner is unable to pay the full amount by the specified due date, this agreement may allow for a temporary payment plan. It outlines the revised payment schedule, installment amounts, and any additional terms and conditions agreed upon to address the delayed payment. 3. Wayne Michigan Non-Waiver Agreement with Extended Payment Terms: In some cases, the owner may request an extension on the original payment terms. This agreement outlines the revised due date, any changes to the late fee structure, and any other relevant terms agreed upon to accommodate the extension. 4. Wayne Michigan Non-Waiver Agreement with Modified Late Fee Terms: This type of agreement may be used when the contractor and owner agree to modify the original late fee provisions due to extenuating circumstances. It states the revised late fee percentage or fixed amount, along with any other pertinent terms related to late payments. Regardless of the specific type, a Wayne Michigan Non-Waiver Agreement should include the following key elements: A. Parties involved: Clearly state the names and contact information of both the contractor and owner. B. Background information: Provide an overview of the construction project or service agreement. C. Payment terms: Specify the original payment terms, including due date, amount, and any applicable late fees. D. Late payment acceptance terms: Outline the circumstances under which the contractor is willing to accept late payments. E. Revised payment terms (if applicable): Detail any changes to the original payment terms or late fee structure agreed upon by both parties. F. Duration of the agreement: Specify the period during which the agreement remains valid. G. Governing law and jurisdiction: Indicate that the agreement is governed by the laws of Wayne Michigan and list the appropriate jurisdiction for any legal disputes. H. Severability: State that if any provision of the agreement is deemed invalid or unenforceable, the remaining provisions shall still be in effect. I. Signatures: Require both the contractor and owner to sign and date the agreement, indicating their acceptance and understanding of its terms. It is important to consult with legal professionals or experts specializing in contracts and construction law in Wayne Michigan to ensure the agreement complies with local regulations and adequately protects the rights and interests of all parties involved.A Wayne Michigan Non-Waiver Agreement between a contractor and owner regarding accepting late payments is an essential document that outlines the terms and conditions related to late payment acceptance. This agreement safeguards the rights and interests of both parties involved in a construction project or service contract. By establishing clear rules, expectations, and consequences, it helps maintain a smooth working relationship between the contractor and owner. In Wayne Michigan, there may be different types of Non-Waiver Agreements depending on the specific circumstances and preferences of the parties involved. Some of these variations may include: 1. General Wayne Michigan Non-Waiver Agreement: This type of agreement sets out the standard provisions and guidelines for accepting late payments. It defines the payment terms, grace periods, and any applicable late fees to be imposed. 2. Wayne Michigan Non-Waiver Agreement with a Temporary Payment Plan: In situations where the owner is unable to pay the full amount by the specified due date, this agreement may allow for a temporary payment plan. It outlines the revised payment schedule, installment amounts, and any additional terms and conditions agreed upon to address the delayed payment. 3. Wayne Michigan Non-Waiver Agreement with Extended Payment Terms: In some cases, the owner may request an extension on the original payment terms. This agreement outlines the revised due date, any changes to the late fee structure, and any other relevant terms agreed upon to accommodate the extension. 4. Wayne Michigan Non-Waiver Agreement with Modified Late Fee Terms: This type of agreement may be used when the contractor and owner agree to modify the original late fee provisions due to extenuating circumstances. It states the revised late fee percentage or fixed amount, along with any other pertinent terms related to late payments. Regardless of the specific type, a Wayne Michigan Non-Waiver Agreement should include the following key elements: A. Parties involved: Clearly state the names and contact information of both the contractor and owner. B. Background information: Provide an overview of the construction project or service agreement. C. Payment terms: Specify the original payment terms, including due date, amount, and any applicable late fees. D. Late payment acceptance terms: Outline the circumstances under which the contractor is willing to accept late payments. E. Revised payment terms (if applicable): Detail any changes to the original payment terms or late fee structure agreed upon by both parties. F. Duration of the agreement: Specify the period during which the agreement remains valid. G. Governing law and jurisdiction: Indicate that the agreement is governed by the laws of Wayne Michigan and list the appropriate jurisdiction for any legal disputes. H. Severability: State that if any provision of the agreement is deemed invalid or unenforceable, the remaining provisions shall still be in effect. I. Signatures: Require both the contractor and owner to sign and date the agreement, indicating their acceptance and understanding of its terms. It is important to consult with legal professionals or experts specializing in contracts and construction law in Wayne Michigan to ensure the agreement complies with local regulations and adequately protects the rights and interests of all parties involved.
