Termination to Build Agreement

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Termination to Build Agreement

A termination to build agreement is one that is entered into between the owner of a property and the builder. On account of this agreement the legal obligations of both the parties comes to an end.

The agreement specifies the grounds for termination of the build agreement entered into earlier between both the parties. Commonly the termination to build agreement comes into existence when either of the parties to the build contract have defaulted any of the terms and conditions previously agreed upon.

The agreement has specific clauses that are entered into between the owner of the property and the builder. Some of the clauses are circumstances for termination of build agreement, mutual agreement of both the parties for termination, consequences of termination, date of termination, settlement of monetary dues if any to be specified, reimbursement of any expenses borne by either parties to be specified and lastly approval of building authority of state for termination also should be specified.

Sample for Termination to Build Agreement

Sample of the agreement can be downloaded from below.

Termination to Build Agreement

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