Overage Agreement Template UK

The Overage Agreement Template UK is offered in multiple formats, including PDF, Word, and Google Docs, featuring customizable and printable examples.

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Overage Agreement Template UK

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Overage Agreement Template UK

1. Client Information


2. Service Provider Information


3. Project Details


4. Overage Terms

5. Scope of Additional Work

6. Client Responsibilities

7. Provider Responsibilities

8. Payment Terms for Overage

9. Confidentiality and Data Protection

10. Termination Clauses

11. Signatures and Agreement

12. Declaration and Signatures



PDF

WORD

Examples

Overage Agreement Template UK (1)
Between:
[Name of the Seller]
[Seller’s ID]
[Seller’s Address]
[Seller’s Phone]
[Seller’s Email]
And:
[Name of the Buyer]
[Buyer’s ID]
[Buyer’s Address]
[Buyer’s Phone]
[Buyer’s Email]
Introduction:
This agreement outlines the terms under which the Seller will receive additional compensation based on the performance of the property being sold, commencing on [Start Date].
Clause 1: Definition of Overages
Overages refer to any amounts received by the Buyer above the agreed purchase price for the property located at [Property Address] beyond [Specified Conditions].
Clause 2: Sharing of Overages
The Seller shall be entitled to [Percentage]% of the total overage payments received by the Buyer for a period of [Timeframe] after the sale completion.
Clause 3: Payment Terms
Overage payments will be made to the Seller within [Number] days of the Buyer’s receipt of such payments, with detailed statements provided.
Clause 4: Reporting and Verification
The Buyer agrees to provide the Seller with quarterly reports detailing any overages received, and the Seller reserves the right to audit such records for accuracy.
Clause 5: Termination of Agreement
This agreement may be terminated by either party upon [Notice Period, e.g., 30 days] written notice if there is a failure to comply with the terms herein.
Clause 6: Governing Law
This agreement shall be governed by the laws of [Jurisdiction, e.g., England and Wales].
Signed in [City], [Date].
Sincerely,
[Signature of the Seller]
[Name of the Seller]
[Signature of the Buyer]
[Name of the Buyer]
Overage Agreement Template UK (2)
Between:
[Name of the Seller]
[Seller’s ID]
[Seller’s Address]
[Seller’s Phone]
[Seller’s Email]
And:
[Name of the Buyer]
[Buyer’s ID]
[Buyer’s Address]
[Buyer’s Phone]
[Buyer’s Email]
Introduction:
This agreement establishes the parameters for sharing any surplus proceeds from the property sale, ensuring the Seller is compensated for any future increased value of the property.
Clause 1: Calculation of Overage
Overage is defined as any amount exceeding the sale price of [Sale Price] due to developments or changes in market conditions.
Clause 2: Overage Rights
The Seller shall receive [Defined Percentage]% of all overages realized for a period of [Defined Duration] following the sale.
Clause 3: Payment Process
The Buyer shall remit overage payments to the Seller within [Time Period] of realization of the overage amount, accompanied by a detailed explanation of the overage calculation.
Clause 4: Rights of Inspection
The Seller retains the right to review the financial records related to the overages at an agreed time and location to ensure compliance with this agreement.
Clause 5: Dispute Resolution
Any disputes arising from this agreement shall first be addressed through mediation, prior to initiating any legal proceedings.
Clause 6: Governing Law
This agreement shall be regulated by and construed in accordance with the laws of [Jurisdiction, e.g., England and Wales].
Signed in [City], [Date].
Sincerely,
[Signature of the Seller]
[Name of the Seller]
[Signature of the Buyer]
[Name of the Buyer]

Printable

PDF – 1 PDF – 2

Overage Agreement Template UK