Accelerate construction project

About this business activity

If a construction project is behind schedule, the owner may want to consider accelerating the project. One way to do this is to pay the contractor additional money to catch up on the work.

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.
  • Contract template sketch

    Relevant Contract Types

    🏠 Acceleration agreement

    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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