Joint Venture Line Item Agreement - 297

ConsensusDocs 297 is a standard Joint Venture (JV) Agreement designed specifically for construction projects where two or more parties collaborate to complete a shared scope of work. This contract establishes the foundation of the JV relationship by clearly outlining the responsibilities, obligations, and rights of each party involved. It provides the legal and organizational structure necessary to operate efficiently and avoid disputes throughout the life of the project.

This agreement includes robust general conditions that cover key construction law issues and allows for full customization based on state laws or unique project requirements. It is flexible enough to accommodate a variety of partnership models, from large-scale infrastructure collaborations to smaller, specialized project teams.

Key Features of ConsensusDocs 297:

• Establishes the legal framework for forming a joint venture between two or more entities
• Defines each party’s responsibilities, scope of work, and execution obligations
• Addresses JV governance, including management structure and voting rights
• Includes provisions for financing, capital contributions, and profit/loss allocation
• Covers essential contract issues like insurance, bonding, performance standards, and dispute resolution
• Allows parties to define remedies for default events and other contingencies
• Designed to be customizable to meet unique project and jurisdictional requirements

Whether forming a joint venture for public-private partnerships, design-build contracts, or complex construction management projects, ConsensusDocs 297 delivers a legally sound, industry-vetted structure that balances flexibility with protection. It’s an essential tool for risk management and collaborative project success in today’s construction landscape.