A development agreement is a written document or contract which is made between an owner of a property or any other asset and a developer who agrees to accept exclusive rights of development of this property or asset from the owner. These agreements are generally made in the case where one party appoints the other for a construction and development work for a specified period of time and for a predecided sum of money.
Any development agreement is a legally binding document which consists of several well detailed terms and conditions which have to be abided by the involved parties. These agreements must also have the details of the involved parties which must include their names, titles, addresses and contact information along with the important dates of the agreement such as the starting and termination dates of the development procedure. Development agreements are commonly used and made and are quite important to many individuals and parties.
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Sample Development Agreement
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