Common use of Handover date Clause in Contracts

Handover date. Both parties agree that: the Project will be handed over officially on November 16, 2018, and Party A will hand over the building to Party B according to the handover standard as agreed in Paragraph 3 below. If Party A fails to hand over in due time, then the overall period of entrusted operation will be postponed accordingly (Party B has officially entered the Project and taken over the work of operation and management on November 16, 2018, from November 16 to November 30, 2018, it is the period of operation handover between both parties; three days after signing the contract, after Party B has received the first payment of design fee from Party A, the Design Department has entered the Project to carry out planning).