Joint Venture Agreement Template Philippines

December 11, 2020 james

Sign a joint venture agreement if you intend to pool resources with another entity to pursue a common goal, especially when it comes to sensitive information or incentive agreements. 5.1 Unless the contrary provision of points 6.0 and 9.0 is made: the parties` interest in potential gross profits and their respective shares of losses and/or liabilities resulting from the submission of a joint offer and/or the execution of the construction contract, as well as their shares in all the tangible assets acquired and all the money received in connection with the execution of the construction contract, as follows: 9.01 events of the joint venture. The joint venture is dissolved after one of the following events: (a) The bankruptcy decision, the filing of an application under a chapter of the Federal Insolvency Act, the withdrawal, removal or insolvency of one of the parties. b) the sale or other sale without exchange of all or part of the assets of the joint venture. (C) Mutual agreement between the parties. The joint venture created by this agreement (the “joint venture”) will operate under the name [JOINT VENTURE NAME] and have its address registered under [ADDRESS]. The joint venture is considered in all respects as a joint venture between the contracting parties and, under no circumstances, this agreement can be construed as ensuring a partnership or other loyalty relationship between the parties. 6.2 Each venturer may at any time replace an alternative to one of its representatives mentioned above by sending a written notification to all other contracting parties. Any representative or alternative representative of the company on the political committee is accepted and is entitled to act for the latter on any matter of interest concerning its participation in the joint venture. (f) review all claims and disputes of any kind between the joint venture and the owner, subcontractors and/or third parties, and authorize negotiations, arbitration procedures, disputes and/or other proceedings for resolution and to authorize their settlement. 5.4 Venturers declare themselves ready to release each other and compensate others for any losses incurred by the joint venture that go beyond the share of these other companies in the participation.