Joint Development Agreement
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Document Overview
A Joint Development Agreement (JDA) is a legal contract between two or more parties who agree to jointly undertake a development project, such as constructing real estate, infrastructure, or a commercial venture while sharing responsibilities, costs, profits, and risks.
Example:
- A landowner contributes land, and
- A developer contributes capital, technical expertise, and project management, to jointly develop the land into housing units, commercial spaces, or other developments.
The JDA legally defines how both parties will cooperate, what each party contributes, and how returns from the project will be shared. It ensures transparency and prevents future disputes.
Key Components of a Joint Development Agreement
- Parties – Names and details of all parties involved (e.g., landowner and developer).
- Recitals – Background and purpose of the joint development.
- Definitions – Key terms like “Project,” “Net Proceeds,” “Development Cost.”
- Contributions – What each party provides (land, funds, expertise, approvals).
- Ownership & Profit Sharing – Ratio or method for dividing units or profits.
- Project Management – Committee structure, decision-making, and responsibilities.
- Funding & Costs
- Timelines – Project schedule and completion milestones.
- Warranties & Representations.
- Confidentiality – Handling of sensitive project and financial information.
- Termination – Conditions under which the agreement can end.
- Dispute Resolution – Negotiation, mediation, or arbitration procedures.
- Governing Law – Applicable law (Kenyan law) and jurisdiction.
- Execution
Download a sample template which you can customize to meet your requirements.
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