A development contract is a formal arrangement or a document which is made in the case when a party agrees to hire another for development purpose. This development can be related to anything such as business, property, building, software, computer program etc. Any development contract consists of certain number of terms and conditions which are legally enforceable in nature and need to be agreed upon by the parties on mutual agreement basis. One must be clear about how to write a development contract and for that purpose we have the following points which can be used by anyone for reference:
- Any development contract must be written in a formal tone by following a formal format or writing. Such contracts must also make use of legal terminology.
- Any development contract must have a clear indication of the effective date of contract, the termination date of contract as well as the time period for which the contract shall remain effective and legally binding.
- A development contract must also clearly indicate the titles given to the parties. These titles are generally denoted as ‘DEVELOPER’ and ‘COMPANY’ or ‘CLIENT’.
- It is really important to mention the details of the parties such as their contact information, addresses etc. These details are useful for future reference purpose or for contacting the parties in case of a dispute or any other such situation.
- The most important part of any development contract is the section where the terms and conditions are given. These terms and conditions must be entered point wise and each of it must be well detailed. These clauses are used to indicate the kind of roles each of the party is to play during the term of the contract.
- The development contract has to be sealed by taking the signatures of the involved parties at the end.