Looking for an unincorporated joint venture agreement for a specific project? Our agreement covers 3 parties with no indemnity and a JV leader providing services to a client in a particular jurisdiction. Perfect for a short-term partnership!
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The Joint Venture / Consortium Agreement to Provide Service is a document that establishes a joint venture between multiple parties to provide services for a specific project. The importance of this document lies in its ability to outline the roles, responsibilities, and obligations of each participant in the joint venture, ensuring clarity and avoiding any misunderstandings.
The document begins with an interpretation section, defining key terms used throughout the agreement. This ensures that all parties have a clear understanding of the terminology used. The schedules attached to the agreement further specify the project particulars, allocation of obligations, and financial policies.
The agreement emphasizes the establishment of the joint venture, outlining its purpose and objectives. It highlights the joint venture's responsibilities, such as preparing and submitting a proposal to the client, negotiating with the client, and performing the services required for the project. The agreement also appoints a JV leader who will take the lead in managing the joint venture's affairs and act as the liaison with the client.
The document provides detailed guidance on the submission of the proposal, emphasizing the joint effort required from all participants. It states that once the proposal is submitted, no changes can be made without the consent of all participants until the services agreement is effective. The agreement also requires each participant to appoint a representative who will have the authority to sign the proposal and the services agreement on behalf of the participant.
The agreement outlines the performance of the work, stating that the services shall be carried out in accordance with the terms and conditions of the services agreement. It specifies that each participant is responsible for fulfilling their obligations as prescribed in the schedule of obligations. Any alterations or additions to the services require the consent of the client and agreement among the participants.
The document includes provisions for financial administration and accounting, specifying that each participant is responsible for keeping their own accounts and dealing with their own tax and social security affairs. It also addresses insurance coverage, requiring each participant to maintain insurance protection against legal liabilities arising from their respective responsibilities.
In the event of a participant's default, the agreement outlines the process for declaring a participant in default and the actions that can be taken by the other participants. It also addresses the termination of the agreement and the settlement of accounts between the participants.
Overall, this Joint Venture / Consortium Agreement to Provide Service is a comprehensive document that establishes the framework for a joint venture and ensures the smooth execution of services for a specific project.
1. Establish the joint venture: Agree on the participants involved in the joint venture and their respective roles and responsibilities. Appoint a JV leader who will take the lead in managing the joint venture's affairs and act as the liaison with the client.
2. Prepare and submit the proposal: Collaborate with all participants to prepare a comprehensive proposal in response to the client's invitation. The JV leader should coordinate the preparation and submission of the proposal, ensuring that no changes are made without the consent of all participants.
3. Enter into the services agreement: If the proposal is accepted by the client, enter into the services agreement in accordance with the proposal. Each participant should grant a power of attorney to their representative, who will have the authority to sign the agreement on behalf of the participant.
4. Perform the work: Carry out the services in accordance with the terms and conditions of the services agreement. Each participant is responsible for fulfilling their obligations as specified in the schedule of obligations. Any alterations or additions to the services require the consent of the client and agreement among the participants.
5. Maintain financial administration: Keep separate accounts for the joint venture and ensure compliance with the financial policies outlined in the agreement. Each participant should bear their share of the promotional costs and be reimbursed accordingly. Maintain insurance coverage to protect against legal liabilities arising from the services.
6. Address defaults and disputes: In the event of a participant's default, follow the process outlined in the agreement to declare the participant in default and take necessary actions. Cooperate with the policy committee and provide necessary information to defend any claims or disputes arising from the services.
7. Termination and settlement: If the proposal is not accepted by the client or the services agreement is terminated, ensure that all accounts between the participants and the client and third parties are settled. Account for any funds provided by the defaulting participant and distribute remaining funds among the remaining participants.
8. Comply with notice and service requirements: Ensure that all notices and communications related to the agreement are in writing and served in accordance with the specified methods. Notify any changes in contact details or addresses to ensure effective communication.
9. Adhere to the entire agreement: Understand that the agreement sets out the entire understanding between the parties and supersedes any previous agreements. Any variations to the agreement must be in writing and signed by all parties involved.
10. Seek legal advice if needed: If there are any uncertainties or disputes regarding the interpretation or implementation of the agreement, seek legal advice to ensure compliance and protect the interests of all participants.