The Forward Funding Agreement is utilized in Saudi Arabia when a funder agrees to finance a development project from its early stages, typically before construction begins. This document is essential for large-scale development projects where traditional lending structures may not be suitable or Sharia-compliant. The agreement must carefully navigate Saudi Arabian legal requirements, including compliance with Islamic finance principles, real estate regulations, and commercial laws. It typically includes detailed provisions for funding disbursement, construction monitoring, risk allocation, and project completion guarantees. The Forward Funding Agreement is particularly important in the Saudi market where real estate development often requires specialized financing structures that align with both commercial objectives and religious principles. The document serves as a comprehensive framework for managing the relationship between funders and developers throughout the project lifecycle.
Your data doesn't train Genie's AI
You keep IP ownership of your information
Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.
OR
Let Ƶ's market-leading legal AI identify missing terms, unusual language, compliance issues and more - in just seconds.
1. Parties: Identification of the Funder and Developer/Owner, including full legal names and registration details
2. Background: Context of the transaction, including description of the development project and funding arrangement
3. Definitions and Interpretation: Key terms used throughout the agreement and rules of interpretation
4. Sharia Compliance: Declarations and structuring provisions to ensure compliance with Islamic finance principles
5. Conditions Precedent: Prerequisites that must be satisfied before funding obligations commence
6. Funding Obligations: Details of funding amounts, timing, and mechanics of payments
7. Development Obligations: Developer's obligations regarding construction, timing, and quality standards
8. Payment Mechanics: Procedures for drawdown requests, payments, and funding milestones
9. Construction Monitoring: Rights and procedures for monitoring construction progress
10. Representations and Warranties: Standard and transaction-specific representations by both parties
11. Developer Covenants: Ongoing obligations of the Developer throughout the project
12. Funder Covenants: Ongoing obligations of the Funder throughout the project
13. Risk Allocation: Distribution of risks between parties including construction, market, and regulatory risks
14. Insurance: Required insurance coverage and related obligations
15. Events of Default: Circumstances constituting default and consequences
16. Termination: Termination events and procedures
17. Governing Law and Dispute Resolution: Saudi law as governing law and dispute resolution mechanisms
1. Security Package: Required when additional security is provided, detailing guarantees, charges, or other security interests
2. Step-In Rights: Included when Funder requires rights to take over project development in case of Developer default
3. Pre-letting Provisions: Relevant when the project includes pre-letting requirements or targets
4. Cost Overrun Provisions: Detailed provisions for handling cost overruns, included when specific mechanisms are required
5. Environmental Compliance: Required for projects with significant environmental impact or requirements
6. Value Engineering: Included when parties want specific provisions for cost optimization during construction
7. Foreign Investment Provisions: Required when any party is a foreign investor, addressing specific regulatory requirements
1. Property Description: Detailed legal and technical description of the development site
2. Development Program: Detailed construction timeline, milestones, and specifications
3. Funding Schedule: Detailed breakdown of funding amounts and timing
4. Form of Drawdown Notice: Template for Developer to request funding drawdowns
5. Construction Specifications: Detailed technical specifications for the development
6. Form of Architect's Certificate: Template for construction progress certification
7. Required Insurances: Detailed list of required insurance coverage
8. Form of Security Documents: Templates for any required security documentation
9. Professional Team: Details of key contractors, consultants, and professional advisers
10. Planning Permissions: Copies or details of required governmental approvals and permits
Relevant legal definitions
Clauses
Relevant Industries
Real Estate
Construction
Banking & Finance
Islamic Finance
Commercial Property Development
Infrastructure
Retail Development
Industrial Development
Hospitality
Mixed-use Development
Relevant Teams
Legal
Finance
Real Estate
Development
Construction
Risk Management
Compliance
Investment
Commercial
Project Management
Relevant Roles
Chief Financial Officer
Real Estate Director
Development Director
Project Manager
Construction Manager
Legal Counsel
Sharia Compliance Officer
Investment Manager
Fund Manager
Risk Manager
Commercial Director
Finance Manager
Development Manager
Property Director
Transaction Manager
Find the exact document you need
Memorandum Of Understanding Between Landowner And Developer
A Saudi Arabian law-governed preliminary agreement between landowner and developer outlining proposed property development terms and cooperation framework.
Download
Property Development Contract
A Saudi Arabian law-governed agreement establishing terms and conditions for property development projects, including rights, obligations, and compliance requirements.
Download
Business Development Contract
A Saudi Arabian law-governed agreement establishing terms and conditions for business development services, including scope, compensation, and compliance requirements.
Download
Web Developer Contract
A Saudi Arabian law-governed contract for web development services, outlining project scope, deliverables, and obligations between parties.
Download
Joint Venture Development Agreement
A Saudi Arabian law-governed agreement establishing a joint venture structure between parties for collaborative development projects, ensuring compliance with local regulations and Sharia principles.
Download
Joint Venture Agreement Real Estate Development
A Saudi Arabian law-governed agreement establishing a joint venture for real estate development projects, outlining partnership terms and regulatory compliance requirements.
Download
Developer's Agreement
A Saudi Arabian law-governed agreement establishing terms and conditions for software development services, including project scope, deliverables, and compliance requirements.
Download
Custom Software Development Contract
A Saudi Arabian law-governed agreement for custom software development, outlining development terms, IP rights, and compliance requirements.
Download
Landowner And Builder Agreement
A Saudi Arabian law-governed agreement between landowner and builder establishing terms and conditions for construction projects.
Download
Software Developer Agreement
A Saudi Arabian law-governed agreement establishing terms for software development services, defining rights, obligations, and deliverables between developers and clients.
Download
Agreement Between Developer And Landowner
A Saudi Arabian law-governed agreement between a developer and landowner establishing terms for property development, including rights, obligations, and project parameters.
Download
Freelance App Development Contract
A Saudi Arabian law-governed contract establishing terms between a client and freelance developer for app development services, including scope, deliverables, and legal protections.
Download
Developer Contract Agreement
A Saudi Arabian law-governed agreement establishing terms and conditions for software development services, compliant with local labor laws and Sharia principles.
Download
Joint Technology Development Agreement
A Saudi law-governed agreement for collaborative technology development between multiple parties, establishing rights, responsibilities, and commercialization terms.
Download
Letter Of Intent For Real Estate Development
A preliminary document under Saudi Arabian law outlining intended terms and conditions for a proposed real estate development project, setting the framework for future negotiations.
Download
Development Agreement For Redevelopment
A Saudi Arabian law-governed agreement setting out terms for property redevelopment, incorporating local regulatory requirements and Sharia compliance.
Download
Builder Developer Agreement
A Saudi Arabian law-governed agreement between developer and builder defining construction project terms, obligations, and compliance requirements.
Download
Design Development Agreement
A Saudi Arabian law-governed agreement establishing terms for design development services, including scope, deliverables, and responsibilities of parties.
Download
Development License Agreement
A legal agreement governing development and licensing arrangements in Saudi Arabia, addressing development obligations, IP rights, and compliance with Saudi law.
Download
Real Estate Development Contract
A Saudi Arabian law-governed agreement establishing terms and conditions for real estate development projects, incorporating Sharia principles and local regulations.
Download
Master Developer Agreement
A comprehensive agreement governing large-scale real estate development projects in Saudi Arabia, establishing developer rights and obligations under Saudi law and Sharia principles.
Download
Freelance Developer Contract
A Saudi Arabian law-governed contract establishing terms for freelance software development services, including scope, IP rights, and delivery requirements.
Download
Employment Contract For Software Developer
Saudi Arabian employment contract template for software developers, compliant with local labor laws and addressing technical role requirements.
Download
Business Development Partnership Agreement
A Saudi Arabian law-governed agreement establishing terms for business development partnerships, including collaboration scope, responsibilities, and commercial terms.
Download
Joint Development Agreement Between Landowner And Builder
A Sharia-compliant Saudi Arabian agreement between landowner and builder for joint property development, outlining rights, responsibilities, and profit-sharing arrangements.
Download
Film Development Agreement
A legal agreement governing film project development in Saudi Arabia, establishing creative, financial, and regulatory frameworks under Saudi law and GCAM regulations.
Download
Development Lease Agreement
A Saudi Arabian law-governed agreement between property owner and developer establishing terms for property development and lease rights, compliant with Sharia principles.
Download
Performance And Development Agreement
A Saudi Arabian law-governed agreement combining development project execution with performance requirements, ensuring compliance with local regulations and Sharia principles.
Download
Joint Research And Development Agreement
A Saudi Arabian law-governed agreement establishing terms for collaborative research and development activities between multiple parties.
Download
Development Service Agreement
A Saudi Arabian law-governed agreement setting out terms for development services, including deliverables, timelines, and commercial terms.
Download
Software Development And License Agreement
A Saudi Arabian law-governed agreement establishing terms for software development services and licensing, including development process, IP rights, and compliance with local regulations.
Download
Land Development Contract
A Saudi Arabian law-governed agreement establishing terms for land development between landowner and developer, ensuring compliance with local regulations and Shariah principles.
Download
Joint Product Development Agreement
A Saudi Arabian law-governed agreement for collaborative product development between multiple parties, addressing IP rights, development processes, and commercialization terms.
Download
Customer Development Agreement
A Saudi Arabian law-governed agreement for custom software or technology development services, establishing terms, responsibilities, and deliverables while ensuring compliance with local regulations.
Download
Technology Development Agreement
A Saudi Arabian law-governed agreement for technology development projects, addressing development terms, IP rights, and local regulatory compliance.
Download
Development Fee Agreement
A Saudi Arabian law-governed agreement establishing development services terms and fee structures for real estate and infrastructure projects.
Download
Site Development Agreement
A Saudi Arabian law-governed agreement establishing terms for site development, including development rights, obligations, and regulatory compliance requirements.
Download
Master Service Agreement Software Development
A Saudi Arabian law-governed master agreement establishing terms for ongoing software development services between a provider and client, addressing key technical, commercial, and regulatory requirements.
Download
Software Development Outsourcing Agreement
A Saudi Arabian law-governed agreement for outsourcing software development services, defining the relationship between client and developer with compliance to local regulations.
Download
Forward Funding Agreement
A Sharia-compliant agreement under Saudi Arabian law governing the forward funding arrangement between a funder and developer for real estate development projects.
Download
ұԾ’s Security Promise
Genie is the safest place to draft. Here’s how we prioritise your privacy and security.
Your documents are private:
We do not train on your data; ұԾ’s AI improves independently
All data stored on Genie is private to your organisation
Your documents are protected:
Your documents are protected by ultra-secure 256-bit encryption
We are ISO27001 certified, so your data is secure
Organizational security:
You retain IP ownership of your documents and their information
You have full control over your data and who gets to see it
.png)