Joint Venture Agreement - 499

The industry’s first standard design-build contract between two or more parties to form a joint venture (JV) for the purposes of submitting a bid or proposal on a design-build project. Design-build projects are where an Owner of the construction project expects the Design-Builder to provide design services (Basic and possibly Additional Services) as well as the building services. The general conditions include the responsibilities allocated to each party and address critical construction law contract issues. The contract issues include: the parties relationship and responsibilities to each other, scope of work and execution obligations, interests of the JV, management of the JV, financing of the JV, performance, payments, events of default and remedies, documents, insurance and bond, dispute resolution and mitigation, and more. Parties can modify the terms of the agreement for their individual needs and state law requirements..