The aim is to facilitate the thirty parties that behave as a confirmation party. If the registered company is included as a third party to the agreement to sell a home, it means that the company has no problem with that transaction and is aware of all related issues. In the development of a tripartite agreement, important points must be taken into account: a tripartite construction credit contract generally lists the rights and remedies of the three parties from the perspective of the borrower, the lender and the owner. It mentions the construction phases, the final sale price, the date of ownership, and the interest rate and maturity of the loan. It also defines the legal procedure known as sub-rogatory, which determines who, how and when different securities of the property are transferred between the parties. The contractor and the bank agree to notify each other within [numbers] of the notification of acts or omissions of which the party is informed, which are contrary to the tripartite agreement or which may be fraudulent or unauthorized. The main objective of the tripartite agreement is to provide financial support to the lender/borrower, i.e. the bank, for the holding of a property on a construction site. The Bank is not responsible (a) for the application of credits deducted from the COMPTE, or b) for determining whether a person has the right to obtain funds ordered or funds requested by the contractor.
Provided the bank exercises due diligence after receiving written instructions from the Bank from the duly accredited client or contractor, the bank acts in this regard and is not liable to any party or third party for any action taken or not in accordance with these written instructions, including, but not limited to, instructions in the form of electronic transmission, file, mail or any other electronic instruction or transaction, including the automated registration of the clearing house, or the breach of a warranty or guarantee by the client or the contractor. These written instructions or instructions that the Bank receives from the Director, the Financial Strategies and Evaluation Department, the CLIENT or the Duly Accredited Bank Representative may, as these are the bank`s rights, obligations and obligations, be considered duly issued and submitted by the CLIENT to the bank.