This unincorporated joint venture/consortium agreement is designed for 2 parties contributing to the manufacturing of products for a specific local project. With full indemnity between participants and a JV leader, it offers a reliable and temporary solution for those looking to collaborate in a particular jurisdiction.
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This is a joint venture agreement between two parties, the JV Leader and Participant 1, which establishes a joint venture for the purpose of producing and selling products, studying and developing new products, and providing technical services.
The participants agree to form an unincorporated association under the name of JV_NAME in TERRITORY. The JV Leader is appointed as the representative of the Joint Venture, and the participants shall cooperate to produce, sell, and provide after-sales service for products to earn satisfactory profits. The Participants will contribute and cooperate in preparing and submitting the project, and the JV Leader will coordinate the project. The Agreement also includes definitions and interpretations of terms, and the Parties' obligations and responsibilities to the joint venture.
Steps to use this Joint Venture Agreement:
1. Understand the Parties involved: This document is a Joint Venture Agreement entered into on the current date between (1) a JV Leader and (2) Participant 1.
2. Understand the purpose of the Joint Venture: The purpose of the Joint Venture is to form a collaboration between the Participants to produce and sell Products, related products, and such other products as are decided by the Participants from time to time. The Joint Venture aims to strengthen economic and technological co-operation.
3. Interpretation: Definitions of terms used in the Agreement are listed in clause 1.1.
4. Joint Venture Establishment: The Participants agree to establish a joint venture, being an unincorporated association under the name of JV_NAME in the Territory, for the purpose of utilising materials and components procured by the Joint Venture to manufacture Products, related products, and such other products as may be approved by the Participants.
5. Participants' Roles: The JV Leader will take the lead in managing the Joint Venture's affairs, provide the Joint Venture's Representative for liaison with Customers, and provide the Production Manager for directing the production of the Products unless the Participants agree otherwise.
6. Production and Operation: The Participants shall make all reasonable endeavors to use their technology and know-how and scientific management techniques to produce, sell, and provide after-sales service for Products and other products decided by the Joint Venture.
7. Project Preparation: The preparation and submission of the Project shall be undertaken jointly by the Participants. The JV Leader shall co-ordinate the Project and the contributions of the Participants. The Participants shall perform with all reasonable skill, care, and diligence their respective functions as allotted by the Policy Committee until the start of the production and operation of the Joint Venture.
8. Changes: Any Participant which changes its name or is taken over by or merged with another firm must promptly communicate details of the same to all other Participants. Unless the Participants otherwise agree in writing, this Agreement shall not terminate if a Participant changes its name or is taken over by or merged with another company or partnership.
This Joint Venture Agreement provides a framework for businesses to collaborate and form a joint venture. It outlines the purpose of the venture, the roles of the Participants, and the establishment of the joint venture. Understanding the Agreement and its definitions is crucial to using it effectively. The Agreement also includes provisions for changes in the Participants' status, the preparation of the Project, and production and operation.