OCFS-3461. Waiver of Interest Agreement Justification Form

Form Waiver of Interest Agreement Justification is a form used by the New York State Office of Children and Family Services (OCFS) to document the request to waive all or part of the interest due on an agency debt. This form is typically used when an agency has a debt that is past due and the agency requests a waiver of the interest due on the debt.

The form requires information from both the agency and the OCFS. The agency must provide information about the debt, such as the amount of the debt, the date the debt was incurred, and the date it was due. The agency must also provide a justification for why the interest should be waived. The OCFS must provide information about the waiver, such as the amount of interest that is being waived, the date of the waiver, and any additional information that is required by the OCFS. The form must be signed by both parties.

Important fields in this form include the amount of the debt, the date the debt was incurred, the date it was due, the amount of interest being waived, and a justification for why the interest should be waived. It is important to provide accurate information and a clear justification for the waiver request as this will help the OCFS make an informed decision. When filling out the form, the agency should adhere to any specific instructions or guidelines provided by the OCFS.

The Waiver of Interest Agreement Justification Form may be used when an agency has a debt that is past due and the agency is unable to pay the full amount of the debt, including the interest due. This form allows the agency to request a waiver of all or part of the interest due on the debt. By waiving the interest, the agency can reduce its overall debt and make repayment more affordable. The Waiver of Interest Agreement Justification Form should be accompanied by other documents, such as a copy of the original debt agreement and a copy of the agency’s financial statement.

A related form alternative for similar transactions is the Waiver of Interest Agreement Addendum, which is used to document any changes to the original waiver agreement. This form should be used if the agency needs to make any changes to the amount of interest that is being waived or if the agency needs to update the justification for the waiver request.