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Joint venture procurement and construction is a way to create a new entity - a joint venture contractor, ensuring sufficient capability to perform the work. The template for joint venture procurement and construction contracts is essential for reconciling the interests of the parties to the contract and is an indispensable document for resolving disputes that arise.
The latest template for joint venture procurement and construction contracts today
1. Template for Joint Venture Procurement and Construction Contract.
2. Main Content of the Template for Joint Venture Procurement and Construction Contract.
3. Regulations on Joint Venture Procurement and Construction.
1. Template for Joint Venture Procurement and Construction Contract
- The template for joint venture procurement and construction contract, also known as the joint venture project execution contract; or the template for joint venture construction execution is quite complex, requiring the contract drafter to ensure the interests of the joint venture contractors.
- Specific template for joint venture procurement and construction contract:
+ Template for Construction Joint Venture Contract No. 1
+ Template Contract with Joint Venture Contractor No. 2
* Download the complete set of templates HERE
2. Main Content of the Template for Joint Venture Procurement and Construction Contract
- Joint venture procurement and construction involves the existence of at least 02 entities, when establishing a joint venture contract, the following main contents must be ensured:
+ Information of the contracting entities.
+ Purpose of the joint venture; name, representative of the joint venture.
+ Responsibilities, authorities of the parties in the joint venture.
+ Operating principles.
+ Dispute resolution methods.
+ Responsibilities in case of contract violation in joint venture.
- The above-mentioned contents must be provided with complete and accurate information based on the agreement and consensus of all parties.
+ Dispute resolution matters, rights, and obligations/responsibilities must be specified as specifically as possible to minimize potential disputes in the future.
+ For terms that are prone to confusion or if any party lacks clear understanding, the contract should provide clear explanations for easy application by all parties.
In relation to bidding, readers can refer to the Consulting Contract Template for Bid Preparation that we have previously introduced.
Provisions regarding joint venture contracts in construction. Latest content of the joint venture contract template.
3. Regulations on Joint Venture Procurement and Construction
- The regulations on joint venture procurement and construction are not very clear in current documents; the terms used in the 2013 Bidding Law such as 'joint venture contractor' are only mentioned without any explanation.
- The essence of a joint venture contractor is the 'connection' of independent contractors who are not capable of performing the work alone; members of the joint venture contractor can become the main contractor if selected.
- One of the conditions for a contractor to be a valid organization is to form a joint venture with a domestic contractor when participating in international tenders in Vietnam, except when the domestic contractor is not capable of participating in any work in the bidding package.
=> Joint venture requirements: Must have a written agreement, clearly defining the responsibilities of the head member of the joint venture, common responsibilities, and individual responsibilities of members.
Template for Joint Venture Procurement and Construction Contract has been compiled by Mytour, shared with detailed content. When using, readers can adjust the content to suit the target, purpose of the joint venture in practice.
Readers can also view many common forms such as Template commercial contract or Template for stock job contract, ...
