The Project Development Agreement is a crucial document used in Austrian real estate and infrastructure development projects to establish the legal and operational framework between developers and project owners. It is particularly relevant when a professional developer is engaged to manage and execute a development project on behalf of a property owner or investor. The agreement must comply with Austrian civil and commercial law requirements, including the ABGB (Austrian Civil Code) and specific construction regulations. It typically covers all aspects of project execution from initial planning through to completion, including detailed provisions for permits, approvals, quality standards, and risk management. The document is essential for projects requiring professional development expertise and structured project management, whether for commercial, residential, or mixed-use developments.
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1. Parties: Identification and details of the Developer and the Project Owner/Client
2. Background: Context of the project development, including site details and development objectives
3. Definitions: Key terms used throughout the agreement, including Project, Development Works, Completion Date, etc.
4. Scope of Works: Detailed description of the development services and works to be performed
5. Developer's Obligations: Comprehensive list of developer's responsibilities, including project management, procurement, and coordination
6. Client's Obligations: Client's responsibilities including provision of information, access, and approvals
7. Project Timeline: Key milestones, completion dates, and project phases
8. Development Fee and Payment Terms: Fee structure, payment schedule, and related financial terms
9. Approvals and Permits: Process for obtaining necessary permits and regulatory approvals
10. Quality and Standards: Required quality standards and compliance requirements
11. Variations: Procedure for handling changes to scope or specifications
12. Risk Allocation: Distribution of risks between parties
13. Insurance and Liability: Required insurance coverage and liability provisions
14. Termination: Grounds and procedures for contract termination
15. Dispute Resolution: Process for resolving disputes, including mediation and arbitration procedures
16. Governing Law: Confirmation of Austrian law application and jurisdiction
1. Environmental Compliance: Required when project has significant environmental impact or requires environmental permits
2. Public Relations: Included when project requires community engagement or public communications management
3. Intellectual Property Rights: Needed when project involves creation of unique designs or technological solutions
4. Financing Arrangements: Required when project involves external financing or specific funding conditions
5. Value Engineering: Included for complex projects where cost optimization is a key consideration
6. Force Majeure: Detailed force majeure provisions for high-risk or long-term projects
7. Step-In Rights: Required when project involves critical infrastructure or public interest
8. Sustainability Requirements: Included when project has specific green building or sustainability targets
1. Project Brief: Detailed description of project requirements and specifications
2. Site Plans and Drawings: Technical drawings, site plans, and architectural designs
3. Development Program: Detailed project timeline and milestone schedule
4. Fee Schedule: Detailed breakdown of development fees and payment structure
5. Key Personnel: List of key team members and their roles
6. Technical Specifications: Detailed technical requirements and standards
7. Required Approvals: List of required permits and regulatory approvals
8. Form of Collateral Warranties: Standard forms for contractor and consultant warranties
9. Insurance Requirements: Detailed insurance specifications and coverage requirements
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