Joint Venture / Consortium Agreement to Supply Products

4 Parties - No Indemnity

No. of Prokens Required: 3 |

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Description:

An unincorporated joint venture / consortium agreement with a JV leader and participants to contribute to the manufacturing of products in a particular jurisdiction. The association is for products required for a specific local project, rather than for a more permanent type of arrangement. This agreement is drafted for 4 parties with no indemnity between the participants.

The JV Leader intends to [INTENTION]. [PARTICIPANTS] (along with the JV Leader, each a "Participant", together the "Participants") have agreed to form a joint venture (a) to strengthen economic and technological co-operation to (a) produce and sell [PRODUCTS], related products and such other products as are decided by the Participants from time to time, and (b) studying and developing other new products (the products referred to in clauses (a) and (b) above are hereinafter collectively referred to as the "Products").

The Production shall be carried out in accordance with the terms and conditions of the Production Agreement and this Agreement. In the event of any inconsistency between the terms of the Production Agreement and this Agreement regarding the performance of the work, the Production Agreement shall prevail, subject to clauses 4.3 and 4.4 below.

Each Participant shall be responsible for fulfilling the obligations prescribed in Schedule 3 in accordance with the terms of the Production Agreement, subject to clauses 4.3 and 4.4 below.

The allocation of the Joint Venture's obligations between the Participants in accordance with Schedule 3 can be amended by agreement of the Participants.

Any alterations or additions to the Production to be carried out under the Production Agreement shall be made only upon demand from Customers in accordance with the Production Agreement. Responsibility for carrying out additional obligations shall be agreed by the Participants.

This Agreement shall be written and interpreted in English.

Unless the Participants agree otherwise, no member shall engage in any activity related to the Project other than as a Participant of the Joint Venture and in accordance with the terms and conditions of this Agreement. Each Participant will ensure that its subsidiaries and other firms or individuals over which it has control will comply with this requirement.

Document Type:

Agreements / contracts

Category:

Business > Setup of Business / Entity > Joint Venture Agreement

 
Keywords:

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