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Property Development Contract Template for New Zealand

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Key Requirements PROMPT example:

Property Development Contract

"I need a Property Development Contract for a mixed-use development project in Auckland, New Zealand, scheduled to commence in March 2025, with specific provisions for staged completion and sustainability requirements."

Document background
The Property Development Contract serves as the primary legal instrument for managing and executing property development projects in New Zealand. This document is essential when undertaking any significant property development, whether commercial, residential, or mixed-use. It incorporates crucial elements required by New Zealand legislation, including the Building Act 2004, Resource Management Act 1991, and Construction Contracts Act 2002. The contract typically includes detailed provisions for project scope, payment mechanisms, completion requirements, quality standards, and risk allocation. It is designed to protect all parties' interests while ensuring compliance with local building codes, environmental regulations, and health and safety requirements. The document's structure allows for customization based on project size, complexity, and specific development requirements while maintaining consistency with New Zealand legal standards and industry best practices.
Suggested Sections

1. Parties: Identification of the developer, contractor, and any other key parties including their legal status and contact details

2. Background: Context of the development project, including site details and general project objectives

3. Definitions: Detailed definitions of terms used throughout the contract

4. Project Scope: Detailed description of the development works, including general specifications and standards

5. Contract Sum and Payment Terms: Project costs, payment schedule, retention provisions, and progress payment mechanisms

6. Time for Completion: Project timeline, completion dates, stages of completion, and provisions for extensions of time

7. Developer's Obligations: Responsibilities of the developer including provision of information, approvals, and site access

8. Contractor's Obligations: Detailed responsibilities of the contractor including workmanship, materials, and compliance requirements

9. Variations: Procedures for varying the works, pricing of variations, and approval processes

10. Consents and Compliance: Requirements for obtaining and maintaining necessary permits, consents, and compliance with regulations

11. Quality Assurance: Quality standards, inspection procedures, and defects liability provisions

12. Risk and Insurance: Risk allocation, required insurance coverage, and liability provisions

13. Default and Termination: Events of default, remedies, and termination procedures

14. Dispute Resolution: Procedures for resolving disputes including mediation and arbitration processes

15. General Provisions: Standard contract clauses including notices, assignment, and governing law

Optional Sections

1. Design Obligations: Required when the contractor has design responsibilities in addition to construction

2. Value Management: Include when specific cost management and optimization procedures are required

3. Environmental Requirements: Necessary for projects with significant environmental considerations or requirements

4. Community Engagement: Include when the project requires specific community consultation or engagement

5. Staging and Sectional Completion: Required for projects with multiple stages or separate completion requirements

6. Heritage Protection: Include when dealing with heritage buildings or sites

7. Provisional Sums: Required when certain works cannot be accurately priced at contract formation

8. Third Party Agreements: Include when coordination with third parties is crucial to project delivery

Suggested Schedules

1. Schedule 1: Site Plan and Details: Detailed plans, boundaries, and site-specific information

2. Schedule 2: Works Specifications: Detailed technical specifications for all aspects of the development

3. Schedule 3: Project Program: Detailed timeline, milestones, and completion dates

4. Schedule 4: Payment Schedule: Detailed breakdown of payments, milestones, and payment terms

5. Schedule 5: Agreed Variations: Record of all approved variations to the original scope

6. Schedule 6: Consent Conditions: Copies of all relevant resource and building consent conditions

7. Schedule 7: Key Personnel: Details of key project personnel and their responsibilities

8. Appendix A: Design Documents: All relevant design drawings and documentation

9. Appendix B: Geotechnical Reports: Site investigation reports and geotechnical information

10. Appendix C: Insurance Certificates: Copies of required insurance policies and certificates

Authors

Alex Denne

Head of Growth (Open Source Law) @ ¶¶Òõ¶ÌÊÓÆµ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Relevant legal definitions











































Clauses








































Relevant Industries

Construction

Real Estate Development

Property Management

Architecture and Design

Engineering

Urban Planning

Infrastructure Development

Commercial Property

Residential Property

Mixed-use Development

Relevant Teams

Legal

Construction

Development

Commercial

Finance

Operations

Risk and Compliance

Project Management

Property

Planning and Design

Relevant Roles

Development Director

Project Manager

Construction Manager

Legal Counsel

Contract Administrator

Quantity Surveyor

Development Manager

Risk Manager

Commercial Director

Finance Director

Compliance Officer

Planning Manager

Site Manager

Operations Director

Property Director

Industries










Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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