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 2 parties with no indemnity between the participants.
The JV Leader intends to [INTENTION]. [PARTICIPANT] (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 Participants hereby establish a joint venture being an unincorporated association under the name of [JV] or such other name as the Participants shall unanimously agree from time to time (the Joint Venture) in [TERRITORY] for the purpose of:
(a) utilising materials and components procured by the Joint Venture to manufacture echo $PRODUCTS; ?> and related products, and such other products as may be approved by the Participants;
(b) assisting local manufacturers to develop advanced production methods for the sourcing and procurement of echo $COMPONENTS; ?>;
(c) providing technical services in connection with the supply and use of the Products;
(d) conducting sales in echo $TERRITORY; ?>, directly by the Joint Venture or through a Participant / distributor.
Changes in the business scope of the Company shall be considered by the Participants from time to time in the light of international and domestic market conditions.
The Participants hereby appoint the JV Leader and, pursuant to clause 3.6, the representative of the Joint Venture, and confirm the addresses of the Joint Venture as stated in Schedule 1.
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.
joint venture agreement,