A development contract example is a well detailed example of a document which can be used as a development contract. A development contract is a contract which is formed between two parties wherein one is the developer and the other is the client who pays the developer for the development of a land, house, property, object or any other entity. Given below is a sample of a development contract example.
Sample Development Contract Example:
This contract is drafted on the effective date of 29th Nov 2012
This contract is made between Mr. Robert Timothy who is hereafter known as the land OWNER and Mr. Mark Cain who is hereafter known as the DEVELOPER. The details of the parties are mentioned as follows:
Address: 30-F, first floor, Peter’s tower, Sunnyvale, CA
Contact number: 437904430024
Address: RT-1, second floor, Jack tower, Sunnyvale, CA
Contact number: 4789474409404
Details of the LAND:
Address: 290-P/h, fifth block, Maggie farms
Land Area: 200 acres
This land is owned by OWNER and is hiring the DEVELOPER to develop it.
Duration of Contract:
Termination of contract: 12 months from effective date
An amount of $5000 shall be paid to the DEVELOPER in advance and an amount of $8000 must be paid after termination of contract.
The following are the terms and conditions to be followed by both parties:
- The OWNER shall hold the right to inspection of land whenever he wishes.
- The DEVELOPER shall develop the area of land as per the instructions and designs discussed between the parties.
Both the parties hereby validate the contract by signing: