what is a waiver clause in an agreement?
Why they are inserted in an agreement.
Can somebody give me few standard waiver clauses?
Daksh (Student) 09 June 2010
The answer to your query is hereunder : -
Unless a party expressly waives its rights in writing, no delay, neglect or forbearance by either party in enforcing against the other party any term or condition of this Agreement shall either be or be deemed to be a waiver or in any way prejudice any right of that party under this Agreement. No right, power or remedy in this Agreement conferred upon or reserved for either party is exclusive of any other right, power or remedy available to that party.
Zaib Javaid (Assistant Manager (Legal & Contracts)) 29 May 2013
While searching on web for the standard Clauses for an Agreement, to prepare a Standard Agreement for my Company, I like this Clause. (Please find the link of the same hereinafter)
No Waiver Clause:
The failure of any party at any time to require performance of any provision or to resort to any remedy provided under this Agreement shall in no way affect the right of that party to require performance or to resort to a remedy at any time thereafter, nor shall the waiver by any party of a breach be deemed to be a waiver of any subsequent breach. A waiver shall not be effective unless it is in writing and signed by the party against whom the waiver is being enforced.
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