A development contract format is a detailed account of the method by which a development contract should be framed or drafted. These types of formats mention the step by step method in which a development contract is designed.
Sample development contract format:
Effective date of contract:
This paragraph of the contract is reserved for giving the names and respective titles of the people or parties involved in the development contract. Here one can also mention the purpose of the contract or for what kind of development is the contract being drafted.
The next section is reserved for writing the addresses and contact information of the involved parties. The points which can be included here are phone number, email address, fax etc.
The details of the entity which is to be developed can be written in this part of the contract.
Terms and Conditions:
- Payment Specifications:
This part is used for giving out the details of the finances involved or the total amount which is being decided to be given to the developer.
- Period of contract:
This clause is reserved for explaining the time period of the contract or the duration and termination details of the contract.
- This clause is used to give out those situations in which the termination of contract can take place before the actual termination time.
- A few clause in between can be used to distribute responsibilities and duties of each party in a detailed manner.
The last section is used for the validation of both parties by providing their signatures.