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A Joint Venture Agreement has been reached among three parties to form an unincorporated association named as JV_NAME, and agree to produce, study, develop, and sell certain products in TERRITORY. The participants are PARTY_1_NAME, PARTY_2_NAME, and PARTY_3_NAME. PARTY_1_NAME is the JV Leader, and the other two parties are Participant 1 and Participant 2, respectively. The Joint Venture aims to create new products, develop advanced production methods for sourcing and procurement of components, offer technical services, and conduct sales directly or through distributors. The Parties agreed to enter into a joint venture to strengthen economic and technological cooperation, while promoting the sale of products in the territory they operate. The Joint Venture's leader is responsible for managing the Joint Venture's affairs, providing a Production Manager to direct the product's production, and a Joint Venture's representative to liaison with Customers.
The Agreement defines the terms and conditions for the establishment and operation of the Joint Venture, the responsibilities of each participant, and the procedures for the Joint Venture's management. The Agreement further specifies that the Joint Venture would operate under a single name, agreed upon unanimously by the parties. Additionally, the parties have agreed to establish a Policy Committee, which shall be constituted by the Participants' representatives.
The Agreement also outlines the project's details, which include the supply of products through the Joint Venture and the project's works. All the Participants shall make reasonable efforts to use their technology and know-how to earn a satisfactory profit by producing, selling, and providing after-sales service for the products agreed by the Joint Venture. The Joint Venture's leader shall coordinate the Project and the contributions of the participants. The Parties shall work together to perform their duties, which involve all reasonable skills and diligence required for the project's completion.
Furthermore, the Agreement specifies that any Participant that changes its name, merges with another firm, or is taken over by another company or partnership shall promptly communicate details of the same to all other Participants. The Agreement shall not terminate if a participant changes its name or is taken over or merged with another company or partnership.
The Joint Venture Agreement also includes provisions for termination, default of a party, confidential information, dispute resolution, governing law, notices, and variation of the agreement. It further clarifies that the Agreement, together with Schedule 1 to Schedule 4 and other relevant documents specified in Schedule 1, form part of the Joint Venture Agreement.
In conclusion, the Joint Venture Agreement among PARTY_1_NAME, PARTY_2_NAME, and PARTY_3_NAME establishes an unincorporated association called [JV_NAME] to produce and sell specific products in TERRITORY. The parties aim to strengthen economic and technological cooperation while promoting the sale of products in their territory of operation. The Agreement lays down the terms and conditions of establishing and operating the Joint Venture, the responsibilities of each participant, and the project's details.
1. Introduction: Begin with an introduction that includes the title of the document and the parties involved in the agreement. Also, mention that this document is a joint venture agreement that outlines the terms and conditions of the collaboration between the parties.
2. Purpose and Background: Explain the purpose and background of the joint venture. This should include what the JV Leader intends to do and why the participants have agreed to form a joint venture. Mention the specific products and services that the participants intend to produce, sell, and develop.
3. Interpretation: This section explains the definitions of specific terms used in the agreement. Define key terms such as "Customers," "Territory," "Joint Venture," and "Participants" to help readers understand the document.
4. Joint Venture: This section outlines the establishment of the joint venture, including the name of the joint venture and the purpose of the joint venture. This section should also outline the appointment of the JV Leader and the representative of the Joint Venture.
5. Production and Operation: This section should detail the responsibilities of the participants in the joint venture. It should cover the production, sale, and after-sales service of the products and services. This section should also outline the cooperation required between the participants to ensure the project's success.
6. Conclusion: This section should conclude the document and summarise the key terms and conditions of the agreement. It should include signatures of all parties involved in the joint venture and the date of the agreement.