Development Agreement

Development Agreement definition

/dɪˈvɛləpm(ə)nt/ /əˈɡriːm(ə)nt/

What does Development Agreement mean?

An agreement under which a developer agrees with another party to procure construction of works on behalf of that party. Typically, the agreement will include obligations as to cost, quality and time and will also provide for the transfer of an interest in the property.

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