🏠 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.

🏠 Acceleration agreement

templates

Construction Contract Acceleration Agreement

An acceleration agreement is a legal document that records an agreement between two parties to complete a construction or engineering project earlier than what was originally agreed upon. The agreement allows for sectional completion, meaning that the project can be completed in sections.

What to watch out for

  • An acceleration agreement is a contract between two parties that stipulates the works must be completed earlier than would otherwise be required.
  • The deed of acceleration records this agreement and allows for sectional completion.
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    Associated business activities

    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.

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