This Contractual Joint Venture Agreement is in open format. Details of the parties’ financial contributions will be set out in Schedule 3. The parties' roles and the resources to be employed will be set out in Schedule 2. The Business Plan will also be set out in Schedule 1, and it can be updated by agreement between the parties. The Project itself will be defined and described in Schedule 1. It simply provides for the appointment of a Management Committee with one or more representatives from each of the two parties to manage the Project, and then for the appointment of a Project Manager to run the Project on a day to day basis. The degree of integration between the joint venture parties is minimal compared to other legal forms of joint venture.īecause a contractual joint venture structure could be used in many different industries and situations, the Contractual Joint Venture Agreement is fairly general, and does not go into detail about how the Project will be run. The contractual joint venture (or ‘Project’ as it is referred to in the Contractual Joint Venture Agreement template) does not involve any legal pooling of the two parties’ assets, and no separate and distinct legal entity will be set up. įor a table which compares features, advantages and disadvantages of four legal forms of joint venture (including a contractual joint venture and a corporate joint venture), see the Joint Venture: Legal Vehicle Comparison Table in this subfolder. For a Corporate Joint Venture Agreement, please see that subfolder which you can reach via this link. This is a duplicate of the document in the Joint Ventures subfolder in the Corporate folder (Starting Up Group). The data protection provisions in this document have been updated with reference to the UK GDPR. It is useful where the proposed project is finite in duration, for example, a joint marketing campaign, the redevelopment of a property, or product development. This Contractual Joint Venture Agreement template is for use by two parties wishing to carry out a joint enterprise, where the parties do not want to go to the expense and formality of setting up a joint venture company.
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