The Real Estate Development Fee Agreement is essential for property development projects in Singapore where professional development management services are required. It provides a structured framework for engaging development managers or consultants, defining their roles, responsibilities, and compensation. This agreement type is particularly important in Singapore's highly regulated real estate market, where compliance with URA, BCA, and other regulatory requirements is crucial. The document typically includes detailed fee structures, service scope, project milestones, and compliance obligations specific to Singapore's property development landscape.
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Key Requirements PROMPT example:
Real Estate Development Fee Agreement
"I need a Real Estate Development Fee Agreement for a mixed-use commercial project in Singapore, where the development manager will be paid both fixed and performance-based fees, with project completion expected by December 2025."
1. Parties: Identification of the Developer and Development Manager/Fee Recipient
2. Background: Context of the development project and purpose of the agreement
3. Definitions: Key terms used throughout the agreement
4. Scope of Services: Detailed description of development management services to be provided
5. Fee Structure: Development fees, payment schedule, and calculation methods
6. Term and Termination: Duration of agreement and termination provisions
7. Obligations and Responsibilities: Duties of both parties including regulatory compliance requirements
8. Representations and Warranties: Standard declarations regarding capacity and authority
9. Governing Law and Jurisdiction: Singapore law provisions and dispute resolution
1. Performance Metrics: Specific KPIs and performance standards - recommended for larger developments or when performance-based fees apply
2. Insurance Requirements: Specific insurance obligations - recommended when additional risk management is required
3. Force Majeure: Provisions for unforeseen circumstances - recommended for longer-term developments or high-value projects
4. Step-in Rights: Rights to take over project management - recommended for complex developments or when required by financiers
1. Schedule 1 - Property Details: Legal description and details of the development site
2. Schedule 2 - Services Scope: Detailed breakdown of development management services
3. Schedule 3 - Fee Schedule: Detailed fee calculations and payment milestones
4. Schedule 4 - Development Program: Project timeline and key milestones
5. Schedule 5 - Required Approvals: List of necessary regulatory approvals and permits
6. Appendix A - Professional Team: List of key consultants and their roles
7. Appendix B - Development Budget: Detailed project budget and cost estimates
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