A tri-party agreement is a legal document outlining the terms and conditions of an agreement between three parties. These types of agreements are commonly used in various fields such as real estate, finance, and construction.

A tri-party agreement sample typically includes the following information:

1. Parties involved – The agreement should clearly state the names and address of all parties involved.

2. Purpose of the agreement – The purpose of the agreement should be clearly stated, including any specific details or goals.

3. Responsibilities of each party – The agreement should outline the responsibilities and obligations of each party involved in the agreement.

4. Payment terms – Payment terms should be clearly defined in the agreement, including any specific instructions or timelines for payment.

5. Termination clause – The agreement should include a termination clause, outlining the circumstances under which the agreement can be terminated by any of the parties involved.

6. Dispute resolution process – The agreement should also include a process for resolving any disputes that may arise between the parties involved.

Here`s an example of a tri-party agreement sample for a construction project:

Tri-Party Agreement

This agreement is made on the [date] between [Party A], [Party B], and [Party C].

Purpose

The purpose of this agreement is to outline the terms and conditions for the construction project located at [location]. This agreement establishes the roles and responsibilities of each party involved in the project.

Responsibilities

Party A shall be responsible for providing the necessary funds for the construction project. Party B shall be responsible for overseeing the construction project, including the hiring of a contractor, supervising construction activities, and ensuring that the project is completed on time. Party C shall be responsible for the delivery of necessary construction supplies, equipment, and materials to the construction site.

Payment Terms

Party A agrees to pay Party B and Party C based on the milestones established in the construction project timeline. Party B and Party C shall invoice Party A for the work completed on a monthly basis.

Termination Clause

This agreement may be terminated by any party involved if the other parties fail to meet their obligations as outlined in this agreement or if unforeseen circumstances arise that prevent the construction project from moving forward.

Dispute Resolution Process

If a dispute arises between any of the parties involved in this agreement, the parties shall attempt to resolve the dispute through negotiations. If negotiations fail, the parties may seek resolution through arbitration or mediation.

In conclusion, a well-drafted tri-party agreement can help to establish clear expectations and ensure that all parties involved in an agreement are on the same page. It`s important to consult with legal experts to ensure that the agreement is accurate, complete, and legally binding.