Waiver of Right to Receive Interest.

  1. Law
  2. Code of Alabama
  3. Commercial Law and Consumer Protection.
  4. Timely Payments to Contractors and Subcontractors.
  5. Waiver of Right to Receive Interest.

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Section 8-29-5

Waiver of right to receive interest.

A party may not waive the right to receive interest before a payment is due under a contract subject to this section. A party may waive the interest due on any late payment on or after the date the payment is due under Section 8-29-3.

(Acts 1995, No. 95-380, p. 775, §5.)


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