🏠 Acceleration agreement

About this category

A acceleration agreement is a document that outlines the terms and conditions of a loan agreement between a lender and a borrower. The agreement includes the amount of money being borrowed, the interest rate, the repayment schedule, and the collateral.

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🏠 Acceleration agreement


Construction Contract Acceleration Agreement

The Construction Contract Acceleration Agreement is a legal template specifically designed for construction projects governed by UK law. This agreement addresses situations where the project's progress needs to be accelerated for various reasons, such as meeting deadlines, mitigating delays, or obtaining financial benefits.

The template outlines the terms and conditions that both parties, the contractor and the client, must agree upon to ensure a smooth and effective acceleration process. It includes clauses that cover the scope of work, project timelines, additional resources and costs, risk allocation, and any necessary changes to the original contract.

This legal document also provides mechanisms for resolving disputes, should they arise during the acceleration process. It may outline the procedures for dispute resolution, such as negotiation, mediation, or adjudication, and establish the applicable laws and jurisdiction.

Overall, the Construction Contract Acceleration Agreement aims to protect the interests of all parties involved in the construction project, while minimizing potential conflicts and ensuring timely project completion by addressing the need for acceleration in a clear and legally binding manner.
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Accelerate construction project

If a construction project is behind schedule, the owner may want to consider accelerating the project. One way to do this is to enter into an acceleration agreement with the contractor. This agreement would outline the steps that the contractor would take to catch up on the work. It is important to note that the owner would likely have to pay the contractor additional money for the work that is accelerated.