An economic development agreement is a legally binding document which is framed when a government orders an economic development department of the state to carry on a procedure which brings about economic development in a particular area or district of that state for a specific period of time. Economic development agreements are also made when a governmental department signs a pact with a private agency for a task or work which will be helpful for bringing about economic development.
Any economic development agreement is complex in nature and is framed with the consultation of a legal expert. These are formally drafted documents which need precision as well as well detailed terms and conditions or rules and regulations. These terms are framed on the basis of mutual agreement between the parties so that no scope is left for any confusion during the term of the agreement. These economic development agreements are quite important in nature.
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Sample Economic Development Agreement
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