10.03 Integrated Agreement. This Agreement constitutes the entire agreement and understanding between the Parties with respect to the subject matter of this Agreement and there are no agreements, collusions, restrictions or guarantees between the Parties, except those provided for therein. Participation in international joint venture agreements is a great way to work with people from different backgrounds and cultures, giving your organization a decent public image. This shows that you go to meet diversity without prejudice. In addition, landowners suffer from a lack of knowledge on how to negotiate a good deal. Many landowners may not have experienced such agreements in the past either. Others fear being deceived by unscrupulous developers. In addition, once the project has begun, the developer may not respect part of its business, thus exposing landowners to financial losses and unnecessary litigation. For a real estate developer, his main concern is to ensure that he gets a good title on which he can implement the project and recover his value at best with minimal risk. A real estate developer is also interested in having freedoms such as construction decisions, promoting the proposed project and making off-plan sales. In addition, at the beginning of the implementation of the project, the developers want to be sure that they can start selling the units and implement the project without unnecessary intervention from the landowner. With more and more Kenyans looking for ways to own real estate, joint venture agreements are becoming increasingly popular. Joint ventures are agreements between landowners and investors that aim to develop real estate with mutual benefits for both parties.
To fill this gap, it is advisable that landowners and owners of capital or real estate developers come together and find ways to merge their respective resources in order to achieve useful results. Indeed, if recent developments in the real estate sector are something to focus on, the future of real estate development lies in joint venture real estate projects. The party that bears, inter alia, the advisers` fees and the contractual terms of each adviser should also be agreed. 2. Evaluation by the quantity expert and the expert, the profit sharing rate is usually determined in the reports of these two consultants. Normally, the market value of the land is what is allocated by the landowner as capital. The project volume indicator should then attempt to quantify the total cost of the proposed project and the variables are ready. This is an extremely important area, as it establishes a basis for the calculation of the profit-benefit formula to be used. 3. Transfer of land to development company – If ownership of the land is in the name of an individual, it is preferable that it be transferred to a development company/special purpose entity or joint venture company….