03-Jun-2020: The Sam India joint venture today entered into the Rs 766 Crore civil contract for Phase 4 of the Delhi Metro project. The joint venture KEC International Ltd-Longjian, the other tenderer, lost for technical reasons. Write down the details of each party and the matters of interest to them through the joint venture. If the parties have specific responsibilities with respect to the joint venture, the details of those responsibilities may also be taken into account. For example, if one party provides trained personnel and the other is required to provide financial investments, these responsibilities may be described in the document. A joint venture itself is not a separate legal entity and is not recognised as such by the supervisory authorities. Joint ventures are carried out by private or legal persons. Now you have planned your joint venture and are ready to make a deal with a second party. In order for you to create a good example of a joint venture agreement, you might need a few useful steps and tips to guide you.
If you know the benefits of a joint venture agreement as well as the types you may encounter, you should probably consider creating one to improve your business. Before we create a template for your agreement, let`s take a look at the main elements of a joint venture agreement: Before we start developing your own draft joint venture contract, let`s first discuss how you would plan your joint venture agreement. Planning would be the first step in setting up a joint venture agreement. You need to take steps to be able to plan your joint venture successfully. Sign a joint venture agreement if you intend to pool resources with another company in order to pursue a common goal, in particular if sensitive information or profit-sharing agreements are involved. This document can be used to create a joint venture between two or more parties who wish to carry out a new project, launch a new service or implement another type of specific cooperation to obtain a profit. It is a legally binding contract that reflects the intention of all parties to create a joint venture on the terms it establishes. As a general rule, two parties engage in a joint venture in order to obtain their own individual advantage, which usually results from the main objectives of the business project they envisage. Whatever your purpose for concluding a joint venture contract, the most important document you should have is a joint venture contract….