Trilateral Agreement Definition

In the mortgage sector, during the construction phase of a new housing complex or condominium complex, a tripartite or tripartite agreement is often concluded in order to guarantee so-called bridge loans for the construction itself. In such cases, the loan agreement involves the buyer, the lender and the contracting authority. The tripartite agreements describe the different guarantees and contingencies between the three parties in the event of non-payment. These examples are automatically selected from different online message sources to reflect the current use of the word “trilateral.” The opinions expressed in the examples do not give the opinion of Merriam-Webster or its publishers. Send us feedback. A tripartite construction credit agreement generally lists the rights and remedies of the three parties from the perspective of the borrower, the lender and the developer. .

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