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JV Agreement (Sample)

This document outlines a joint venture agreement between a project vendor and project manager to design and construct various infrastructure elements for a development project. Key points include: - The project manager will execute and complete the design and construction of external roads, drains, a lagoon, water supply, and electrical networks according to approved plans and specifications. - Workmanship will meet engineering standards and specifications and be completed to the satisfaction of the project vendor. - The project is to be completed by a specified date subject to site clearance and management issues. - The work will be executed on a cost-to-cost basis and profits/losses will be shared between the parties according to an agreed-upon ratio upon

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S. Rehman
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2K views2 pages

JV Agreement (Sample)

This document outlines a joint venture agreement between a project vendor and project manager to design and construct various infrastructure elements for a development project. Key points include: - The project manager will execute and complete the design and construction of external roads, drains, a lagoon, water supply, and electrical networks according to approved plans and specifications. - Workmanship will meet engineering standards and specifications and be completed to the satisfaction of the project vendor. - The project is to be completed by a specified date subject to site clearance and management issues. - The work will be executed on a cost-to-cost basis and profits/losses will be shared between the parties according to an agreed-upon ratio upon

Uploaded by

S. Rehman
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd

JV AGREEMENT

This JV is made of this ____ day of _________, between the ________________


(_____ ) (hereafter called the Project Vendor (Party-1) which expression shall include
the successors, legal representatives and permitted assignees of the one part And
_______________________ (hereafter called the Project Manger (Party-2) which
expression shall include the successors , legal representatives and permitted assignees
of the other part WHEREAS the Project Vendor (Party-1) is desirous that
_____________________ ___________) at ________________________shall be
executed & completed by the Project Manager (Party-2) and has accepted the offer of
Party-2 for the execution and completion of the Project.
Now therefore, the parties agree as follows:-
1. SCOPE WORK The detailed scope of work is as under:-
Design & Construction of
a) External Roads (As Per Approved Master Plan & Specs)
b) External Drains Up to Lagoon (As per Approved Design & Specs)
c) Lagoon (As per approved Design & Specs).
d) External Water Supply (As per Approved Design & Specs)
e) HT & LT Network (As per Approved Design & Specs).
2. SPECIFICATIONS /WORKMANSHIP OF THE WORK workmanship of works
shall be those shown on drawing & specifications. All the works shall be executed by
Project Manager (Party -2) as per standard engineering practices, with the best
possible workmanship and to the satisfaction of project Vender (Party-1) / Site
Engineer or Quality team/Inspector deployed by Party-1.
3. TIME FOR COMPLETION the whole works shall be completed by __________
subject to the availability of cash Flow Site Clearance & Managerial Issues.
4. VALUE OF WORK /RATES FOR PAYMENT The work shall be executed on
Cost to Cost basis. This includes the cost of Material, Labor & other Site expenses only.
Both Parties has agreed to execute this JV agreement on Profit & Loss Sharing Basis
of ____& _____ Upon completion of project, the ____ ration of earned profit/ Loss will
be reserved with Project Vender (Party-1) while remaining ____will be awarded to the
Project Manager (Party -2).
Project, the ____ratio of earned profit / loss will be reserved with Project Vender (Party-
1) while remaining ____will be awarded to the project Manager (Party-2).
5. MODE OF PAYMENT the Project Manager (Party-2) shall submit running/final
bills to the Project Vender (Party-1) On work done basis and payments by the Party-1
will be made to the Party -2 after technical scrutiny of the bill/work done. For advance
procurement purposes, Party-2 could avail ____ Secure Advance (if required on mutual
understandings.
6. QUALITY ASSURANCE the Project Vender (Party-1) shall deploy a Quality
Team jointly with Project Manager (Party-2) & Clients __________ ______. The team
will visit the site fortnightly for quality assurance shall be submitted by Party-2 & will be
signed by Quality Assurance Team. Any Discrepancies found in work done, shall be
intimated on same report for immediate implementation. Any kind of dismantling /
removal or execution of works after the Quality Assurance Teams report shall be
considered additional works.
7. TERMS & CONDITIONS legal & other Terms & Conditions.
In witness whereof both parties hereto have caused this agreement to be executed the
day and year written above in accordance with the prevailing laws.

Signature of Project Vender (Party-01) _____________________________

Signature of Project Manager (Party-02)____________________________

Witness No 1 __________________________________________________

Witness No 2__________________________________________________

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