Home Contract Samples T Tripartite Agreement

Tripartite Agreement: Definition, Example

Jump to Section

What is a Tripartite Agreement?

A tripartite agreement, also called a tri-party agreement, is a legal contract that three different parties enter. Tripartite agreements can be found in all industries but are most common in the mortgage industry, mainly when new construction occurs. These agreements will usually involve a buyer, lender, and builder. Their purpose is to secure loans for the actual construction of a property. A tripartite agreement in the mortgage industry will include securities and contingencies between all three parties involved in the loan and details what will happen if there is a default.

Another example of a tripartite agreement is a novation. In a novation, a new third party takes over part of a contract for an original party to the contract. The new third party will be responsible for all rights and obligations under the original agreement. All parties involved in the contract must agree to a novation.

Tripartite Agreement Sample

Exhibit 2.3.1

Tripartite Agreement

Party A: Qingdao Peking University Resources Technology Development Co., Ltd.

Party B: Qingdao Boyang Education Investment and Management Co. Ltd

Party C: Beijing Frank Education Investment and Management Co., Ltd

WHEREAS, on September 2, 2005, Party A entered into Real Estate Purchase Agreement with Party B and on April 30, 2007 signed Supplementary Agreement regarding purchase of the real estate located at Danshan FuChang Road No. 2, Chengyang District, Qingdao City (“the Real Estate”). On the date hereof, Party B has not paid Party A in full yet. Party C intends to pay Party A the outstanding payment and relevant delay penalty on behalf of Party B.

NOW, THEREFOR, the Parties hereby agree to enter into Tripartite Agreement as follows:

Article One

The Parties hereby confirm that on the date hereof, the outstanding payment to Party A regarding purchase of the Real Estate is RMB 30,965,000 and the delay penalty is RMB 6,800,000. Party C hereby agrees to pay Party A an aggregate amount of RMB 37,765,000 which is the part of share purchase price under Share Transfer Agreement.

Article Two

 

1. Party A agrees to waive the right to unilaterally rescind Real Estate Purchase Agreement and Supplementary Agreement and to waive any claim for damages arising out of Party B’s breach of Real Estate Purchase Agreement and amendment.

 

2. Party A agrees to waive any claim for damages arising out of Party C’s breach of Tripartite Agreement, if Party C fulfills payment obligations strictly subject to the Article Three.

Article Three

Party C shall pay Party A according to the following schedule:

 

1. before January 8, 2008, to pay RMB 3,000,000;

 

2. before January 31, 2008, to pay RMB 34, 765,000; but this does not exclude that Party C may pay before January 18, 2008.

Article Four

Party C should perform the payment obligations subject to the articles and terms of Tripartite Agreement. Any delayed of the payment should be charged 0.05% of RMB 37,765,000 day by day as a penalty.

Article Five

Any dispute for real estate should be referred to the People’s Court located in the place where the real estate is located, which has jurisdiction on such dispute for settlement.


Article Six

This Tripartite Agreement should be written in six copies and each Party having two copies. The Tripartite Agreement should become effective upon legal execution.

Signature Page:

Party A: Qingdao Peking University Resources Technology Development Co., Ltd. (chop)

Party B: Qingdao Boyang Education Investment and Management Co. Ltd (chop)

Party C: Beijing Frank Education Investment and Management Co., Ltd n (chop)

Date: January 4, 2008


Reference:
Security Exchange Commission - Edgar Database, EX-2.3.1 3 dex231.htm TRIPARTITE AGREEMENT, Viewed October 4, 2021, View Source on SEC.

Who Helps With Tripartite Agreements?

Lawyers with backgrounds working on tripartite agreements work with clients to help. Do you need help with a tripartite agreement?

Post a project in ContractsCounsel's marketplace to get free bids from lawyers to draft, review, or negotiate tripartite agreements. All lawyers are vetted by our team and peer reviewed by our customers for you to explore before hiring.


ContractsCounsel is not a law firm, and this post should not be considered and does not contain legal advice. To ensure the information and advice in this post are correct, sufficient, and appropriate for your situation, please consult a licensed attorney. Also, using or accessing ContractsCounsel's site does not create an attorney-client relationship between you and ContractsCounsel.


How ContractsCounsel Works
Hiring a lawyer on ContractsCounsel is easy, transparent and affordable.
1. Post a Free Project
Complete our 4-step process to provide info on what you need done.
2. Get Bids to Review
Receive flat-fee bids from lawyers in our marketplace to compare.
3. Start Your Project
Securely pay to start working with the lawyer you select.

Meet some of our Tripartite Agreement Lawyers

David A. on ContractsCounsel
View David
5.0 (1)
Member Since:
January 23, 2023

David A.

Family Lawyer
Free Consultation
Florida
44 Yrs Experience
Licensed in FL
University of Florida

Graduated UF Law 1977. 40 years experience in Family Law/Divorce and Prenuptial Agreements. Rated "AV Preeminent" By Martindale Hubble, the oldest lawyer rating firm in the USA. Top 5% of attorneys in Florida as reviewed by Judges and other Lawyers (not client reviews). Personal prompt service and easy to contact--available 24/7. Good negotiator and very personable. My clients are my priority.

Recent  ContractsCounsel Client  Review:
5.0

"David was very helpful, patient, and responsive on this project. He cares about his clients and works to build a relationship and address your needs. I would absolutely recommend David."

Thomas G. on ContractsCounsel
View Thomas
5.0 (2)
Member Since:
January 27, 2023

Thomas G.

Real Estate Attorney
Free Consultation
Chevy Chase, MD
24 Yrs Experience
Licensed in DC, MD
University of Maryland School of Law

https://www.tgravelylaw.com/

Recent  ContractsCounsel Client  Review:
5.0

"Thomas was great to work with. He was easy to communicate with and helped ensure I got a fair contract for my commercial lease. I highly recommend Thomas to anyone."

David T. on ContractsCounsel
View David
Member Since:
June 15, 2023

David T.

owner
Free Consultation
Ann Arbor
32 Yrs Experience
Licensed in MI
THOMAS M. COOLEY LAW SCHOOL

David Trentadue has been practicing law since 1994. He received his Bachelors’ Degrees in History and Political Science from the University of New Orleans and his Juris Doctor, cum laude, from the Thomas M. Cooley Law School. Currently in private practice, his areas of concentration include Estate Planning, Probate and Trust Administration, Real Estate, Business Formations and Corporate Governance. He is licensed in all state and federal courts in Michigan. He is also a Licensed Title Examiner

Charles K. on ContractsCounsel
View Charles
Member Since:
January 23, 2023

Charles K.

Attorney
Free Consultation
New York, NY USA
43 Yrs Experience
Licensed in NY
University of Illinois Chicago School of Law (John Marshall)

~ Charles Kramer - Technology, Contracts and Intellectual Property Attorney ~ www.linkedin.com/in/charleskramer I am a New York corporate and technology attorney. My experience includes: - representing high-tech companies (including software, military, manufacturing and computer game companies) in connection with negotiating and drafting (1) toolkit, enterprise, Saas, PaaS and other complex agreements and licenses with companies around the world; (2) joint-venture, sales, publishing and distribution agreements; and (3) general corporate agreements. - 5 years as General Counsel of a software company (and many more years representing it as outside counsel); - 3 years as an associate in the Wall Street law firm of Lord, Day & Lord (then the oldest law firm in New York City practicing under the same name); and - speaking at conferences on legal issues including at the annual Game Developers Conference and Miller Freeman's Digital Video Conference. I am comfortable working in areas where the technology -- and the related law -- are new. My recent work includes working as a contract attorney (extended on a month-by-month basis) as American counsel for a publicly traded Swiss industrial corporation with responsibility for drafting form contracts for its planned "industrial internet of things" digital services. Accordingly I am comfortable working in a corporate environment using modern collaboration tools. Charles Kramer (917) 512-2721 (voice, voicemail, text)

Joseph M. on ContractsCounsel
View Joseph
Member Since:
January 23, 2023

Joseph M.

Attorney
Free Consultation
Boston, MA
5 Yrs Experience
Licensed in MA
Massachusetts School of Law

Joe provides premium legal services to both individuals and businesses throughout the Commonwealth. Experience litigating civil and criminal matters, as well as drafting/negotiation transactional issues involving contracts, real estate, business formation, estate planning and more. Prior to entering private law practice, Joe worked for two decades in financial industry including regulatory and compliance for both national and regional banks and investment firms.

Judi P. on ContractsCounsel
View Judi
Member Since:
January 26, 2023

Judi P.

Attorney
Free Consultation
New Mexico
6 Yrs Experience
Licensed in NM
Arizona Summit Law School

Driven attorney with a knack for alternative dispute resolution, real estate, corporate law, immigration, and basic estate planning, with superb people skills and high emotional intelligence, and for working smart and efficiently, as well as time and financial management skills to deliver excellent legal work and solutions to legal issues. Seasoned with 20+ years of law firm and legal experience (real estate/corporate).

Brittany T. on ContractsCounsel
View Brittany
Member Since:
January 26, 2023

Brittany T.

Attorney
Free Consultation
Georgia
12 Yrs Experience
Licensed in GA
Florida Coastal Law School

Brittany is an experienced attorney specializing in transactional and complex contract matters including but not limited to SaaS development and product implementation, technology/data agreements, licensing, and compliance. She has over 7 years of experience providing strategic legal advice to individuals and business clients of all sizes, from start-ups to large corporations. Brittany has a strong understanding of the legal issues related to technology and software and is well-versed in drafting and negotiating contracts ranging from software licenses to data sharing agreements. She is a highly-skilled negotiator and is adept at finding creative solutions to challenging legal issues.

Find the best lawyer for your project

Browse Lawyers Now

Quick, user friendly and one of the better ways I've come across to get ahold of lawyers willing to take new clients.

View Trustpilot Review

How It Works

Post Your Project

Get Free Bids to Compare

Hire Your Lawyer

Business lawyers by top cities
See All Business Lawyers
Tripartite Agreement lawyers by city
See All Tripartite Agreement Lawyers

Contracts Counsel was incredibly helpful and easy to use. I submitted a project for a lawyer's help within a day I had received over 6 proposals from qualified lawyers. I submitted a bid that works best for my business and we went forward with the project.

View Trustpilot Review

I never knew how difficult it was to obtain representation or a lawyer, and ContractsCounsel was EXACTLY the type of service I was hoping for when I was in a pinch. Working with their service was efficient, effective and made me feel in control. Thank you so much and should I ever need attorney services down the road, I'll certainly be a repeat customer.

View Trustpilot Review

I got 5 bids within 24h of posting my project. I choose the person who provided the most detailed and relevant intro letter, highlighting their experience relevant to my project. I am very satisfied with the outcome and quality of the two agreements that were produced, they actually far exceed my expectations.

View Trustpilot Review

How It Works

Post Your Project

Get Free Bids to Compare

Hire Your Lawyer

Want to speak to someone?

Get in touch below and we will schedule a time to connect!

Request a call

Find lawyers and attorneys by city