A party who knows that any provision of ORS 36.450 (Definitions for ORS 36) to 36.558 (Short title) or of any requirement under the arbitration agreement that has not been complied with and yet proceeds with the arbitration without stating an objection to such noncompliance without undue delay or, if a time limit is provided for stating that objection, within that period of time, shall be deemed to have waived the right to object.