Sale And Construction Agreement Template for Malaysia

The Sale And Construction Agreement is a crucial document in Malaysian property development, used when a developer sells property that is yet to be constructed or is under construction. This agreement type is particularly relevant in the Malaysian context where property development is heavily regulated under the Housing Development (Control and Licensing) Act 1966 and related legislation. It combines elements of a standard sale and purchase agreement with detailed construction obligations, specifications, and quality standards. The document is essential for both commercial and residential developments, providing comprehensive coverage of property transfer, construction requirements, payment schedules, and completion obligations while ensuring compliance with Malaysian housing development regulations and construction standards.

1. Parties: Identification of the Developer/Vendor and Purchaser with full details as required under Malaysian law

2. Background: Context of the agreement, including property details, development project information, and relevant permits/approvals

3. Definitions: Definitions of key terms used throughout the agreement, including technical construction terms

4. Sale and Purchase Terms: Core terms of the property sale, including purchase price, payment schedule, and completion terms

5. Construction Specifications: Detailed specifications of the construction work, building plans, and materials

6. Construction Timeline: Construction milestones, completion date, and delivery schedule

7. Payment Terms: Payment structure, including progress payments linked to construction milestones

8. Developer's Obligations: Responsibilities of the developer including construction, obtaining approvals, and ensuring compliance

9. Purchaser's Obligations: Responsibilities of the purchaser including payments and cooperation requirements

10. Quality and Standards: Construction quality requirements, applicable standards, and compliance with regulations

11. Defects and Warranties: Defect liability period, warranty terms, and rectification procedures

12. Completion and Handover: Procedures for completion, inspections, and property handover

13. Title and Ownership: Property title transfer provisions and obligations

14. Default and Termination: Events of default, remedies, and termination procedures

15. Force Majeure: Provisions for unforeseen circumstances affecting construction or completion

16. Dispute Resolution: Procedures for handling disputes, including mediation and arbitration

17. Notices: Communication procedures and contact details

18. Governing Law: Specification of Malaysian law as governing law and jurisdiction