Tri-Party Agreement

A Tri-Party Agreement is a formal contract among three parties, typically used in managing complex projects or environmental cleanup efforts. It clearly defines each party's responsibilities, expectations, and commitments to ensure cooperation and accountability. For example, in environmental remediation, the agreement might involve a government agency, a contractor, and a community group working together to safely clean up contaminated sites. This structured approach helps coordinate efforts, manage risks, and ensure all parties work toward common goals efficiently and transparently.