Area Development Agreement With Example
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How to fill out Area Development Agreement?
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FAQ
The Following Documents are Required for Development Agreement :Sale Deed/Title deed /Mother deed/Conveyance Deed.RTC Extracts.Mutation Register Extracts.Joint Development Agreement.General Power of Attorney.Building plan sanctioned by the Statutory Authority.More items...
It is an arrangement between the Land owner and the Builder/Developer, where the Land owner contributes his land and the Developer takes the full responsibility of obtaining approvals, construction, launching and marketing the project with the help of financial resources.
Area franchise means a contract or agreement between a franchisor and a subfranchisor whereby the subfranchisor is granted the right, for consideration given in whole or in part for such right, to sell or negotiate the sale of franchises in the name or on behalf of the franchisor; unless specifically stated otherwise,
The difference between a master franchise relationship and an area representative is that the master franchisee signs an agreement with each sub-franchisee, while the area representative does not. The area representative also does not need to create or register their own Franchise Disclosure Document.
Area development is a type of franchise agreement in which investors agree to open a specified number of business units within a given geographical area and timescale. To secure exclusive rights, an investor pays an up-front development fee, plus a franchise fee every time they open a new unit.