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Youre watching Minute Law with me, Maria Spear Ollis of Spear IP and this is part of our Whats in My Contract series. Breaking down some common contract terms, called boilerplate terms, so that everyone can understand them a little better and this weeks topic is Waiver. So, an ordinary waiver clause might say: The waiver of one bdocHub of this contract is not deemed a waiver of a subsequent bdocHub of this contract. Okay, what does that mean? Ill give you a hypothetical scenario. Contract between you and client; client -- the contract says that you can charge a late fee if client doesnt pay on time. You send a bunch of invoices, client usually pays on time, and then one month client doesnt pay on time. So you decide, in your business judgment, not to enforce that late fee. The next month, client doesnt pay on time. Then, the next month client doesnt pay on time. The waiver clause basically says that even though you waived your right to enforce that late fee once, it do
