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Development Fee Agreement
"I need a Development Fee Agreement for a mixed-use property development project in Manchester, where our company will be paying a developer a success-based fee structure with 50% fixed fee and 50% performance bonus, starting from March 2025."
1. Parties: Identification and details of all contracting parties
2. Background: Context and purpose of the development fee arrangement
3. Definitions: Key terms used throughout the agreement
4. Scope of Services: Detailed description of development services to be provided
5. Fee Structure: Development fee calculation, payment terms and schedule
6. Payment Terms: Timing, method and conditions for payment
7. Term and Termination: Duration of agreement and termination provisions
1. Performance Metrics: Specific targets and KPIs for performance-based fee arrangements
2. Project Milestones: Key development stages and associated deliverables for phased developments
3. Third Party Rights: Rights of external stakeholders when other parties have interest in development
1. Schedule 1 - Services Description: Detailed scope of development services
2. Schedule 2 - Fee Calculation: Detailed breakdown of fee structure and calculations
3. Schedule 3 - Project Timeline: Development milestones and deadlines
4. Appendix A - Development Plans: Technical drawings and specifications
Authors
Applicable Laws
Business Day
Commencement Date
Completion
Confidential Information
Development
Development Fee
Development Period
Development Services
Development Site
Effective Date
Force Majeure Event
Intellectual Property Rights
Milestone
Payment Date
Performance Criteria
Planning Permission
Project
Project Documents
Property
Quarter
Relevant Authority
Services
Specification
Term
Termination Date
VAT
Working Hours
Appointment
Scope of Services
Developer's Obligations
Client's Obligations
Development Fee
Payment Terms
Performance Standards
Project Timeline
Intellectual Property Rights
Confidentiality
Data Protection
Warranties and Representations
Liability and Indemnification
Insurance
Force Majeure
Term and Duration
Termination
Consequences of Termination
Assignment and Subcontracting
Variation
Notices
Dispute Resolution
Governing Law and Jurisdiction
Entire Agreement
Severability
Third Party Rights
Waiver
Costs
Counterparts
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