How To Use
Both parties can benefit from a signed waiver of condition.
The late party clearly benefits from being excused for non-performance. The excused party benefits by having its agreement to waiver in writing so the other party cannot, on this or other subjects, claim a verbal waiver.Although contracts may prohibit verbal waivers explicitly, if the parties “act” on oral agreements, then the issue becomes murky and the oral agreements, particularly if there are a few of them and they have substantial impact upon the arrangement, can be enforced and at the least cloud the issues.
This review list is provided to inform you about this document in question and assist you in its preparation.
- Make multiple copies. Fax and/or email to the other party if possible. Keep a copy with the transaction file.