Description and usage
Joint Venture Agreement This is a Joint Venture Agreement for two parties and it contemplates that they will collaborate with each other on a number of projects. It is assumed that both parties are limited companies. This twenty-one page document contains 24 clauses covering - definitions and interpretations
- formation of joint venture
- duration
- duties and responsibilities
- management
- project director
- tender – preparation and submission
- contract
- distribution of profit
- bank accounts
- working capital
- accounts
- default
- personnel and plant
- services of parties
- insurance
- bonds and guarantees
- confidentiality
- intellectual property
- force majeure
- taxes and VAT
- notices
- resolution of disputes and governing law
- a general clause detailing the scope of the agreement, amendment, warranties, severance, waiver, assignment, partnership, third party rights and the Competition Act of 1998.
Provision is made for schedules detailing the authority of the project director, contributions in kind to the joint venture made by the parties and initial working capital requirements. You need this document if you are a limited company looking to collaborate with another limited company on a number of projects, and want a comprehensive agreement to formalize the terms of your relationship. What's in it? - See detailed Explanatory Notes below
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