Common use of Required Notice of All Claims and Statute of Limitations Clause in Contracts

Required Notice of All Claims and Statute of Limitations. The Parties agree that each must deliver written notice of any claim to the other party within one (1) year of the date the aggrieved party first has knowledge of the event giving rise to the claim; otherwise the claim will be void and deemed waived, even if there is a federal or state statute of limitations which would have given more time to pursue the claim.