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Construction Services
Tripartite Deeds
The Operation of Tripartite Deeds
Tripartite Deeds or Agreements, are agreements between the developer (or Principal), builder and financier (usually the bank) which set out the parties’ rights and obligations regarding the completion of building works and processes involved to deal with defaults under any loan or under the building contract.
Where there is a loan agreement, the financier may require that the builder enter into a Builder Side Deed. This is essentially where the builder consents to the lender stepping in and to try and resolve a situation of default by the Principal.
There are numerous issues to consider in such agreements and the proper advice as to the terms of such agreements is highly recommended. The terms should be negotiated where necessary before they are entered into, so as to avoid common misunderstandings and pitfalls, which can be devastating, that usually arise from a failure to treat these documents with the attention they need.
With all such documentation relating to loans and otherwise, where numerous terms and conditions exist and must be complied with, it is critical you obtain clear and impartial advice so that you can understand what is expected.
Testimonials
Gavel & Page Lawyers are now our “go to” firm for any contract or property related transactions. They were referred by a family friend and we were not disappointed. They reviewed all the documents and advised us on all the issues surrounding our purchase of a commercial property, ensuring the transaction ran smoothly and relieving a lot of the stress involved They also reviewed, drafted and settled commercial terms which were fundamental to our business. They explained the terms in a way that helped us understand their implications and significance which was of great benefit. A pleasure to deal with, down-to-earth, reliable, efficient and competent. Great job! Highly recommended!
Joe, just wanted to take a moment to show my appreciation to yourself and Merlyn for the ongoing 6-star service that you provide myself and my clients. The dedication, reliability, timeliness and quality of your service is what gives me the confidence in knowing that any client that I refer to you will be nurtured, respected and satisfied that they are dealing with a professional team that gets the job done. Love your work.
Since the time I first contacted Joseph and his specialist team, the high standard, level of professionalism, promptness and high value expertise enjoyed when engaging Gavel & Page Lawyers has proven of immense benefit. Joe and his Team have proven invaluable without compromise, time and time again, that it pays to have the right legal advisor on your side.
Joseph, we would like to thank you for your help with the purchase of our property. We were required to complete the sale quickly and your efficient and professional work helped completing the transaction within the tight time frame. We do not hesitate to recommend your service to our friends.
