Agreements and documents
Tripartite agreement
An agreement between buyer, developer and lender for a home loan on an under-construction unit. It protects the lender's interest in the property.
When a buyer takes a home loan for an under-construction flat, the lender often requires a tripartite agreement signed by the buyer, the developer and the bank. It records that the developer will hand over title documents to the bank and route refunds through it if the booking is cancelled.
Keep track of which bank each buyer uses. Cancellation refunds for financed units must follow the tripartite terms, which affects how your accounts team processes them.
Related terms
Put your next launch on LeadOne AI.
Write to us for a demo on your own project's units and price list.Your reps can download the app today.
Android: coming soon to Google Play
hello@leadoneai.comAndroid: coming soon to Google Play