waiver of default

windyvalley

Senior Member
Chinese
Hi,

Would you please help me understand this ?

What is the meaning of "waiver of default"?
I looked up the dictionary, both words mean abandoning rights, so what do they mean altogether?

The following items is like this:

"Any failure of either party at any time, or from time to time, to require or enforce the strict keeping and performance by either party of any of the terms and conditions of this Agreement shall not constitute a waiver by either party of a breach of any such terms or conditions in the future and shall not affect or impair such terms or conditions in any way, or the right of either party at any time to avail itself of such remedies as it may have for any such breach of any term or condition. "

This should be the futher explaination for the wavier of default, however, I could not understand this part either"shall not constitute a waiver by either party of a breach of any such terms or conditions in the future ".

Would you please help ? Thanks.
:)
WV
 
  • owlman5

    Senior Member
    English-US
    Hi, windyvalley.

    I must remind you that this is a general language forum. It is not a legal forum. You really need a lawyer to tell you what that sentence means.
     

    windyvalley

    Senior Member
    Chinese
    Oh, owlman, I am not sure if it is more like a language understanding problem or a law issue. So as per your knowledge, it should be and must be understood by a lawyer only. right?

    Acually, I do not know. This is from a trade contract.
     

    owlman5

    Senior Member
    English-US
    I really do think you need a lawyer, windyvalley. That is difficult, tricky language. Lawyers are trained to recognize the essential features in a contract and to recognize whether a contract is valid or not.

    If you are thinking of signing this contract, you should have an attorney explain exactly what it means.
     
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