Contractual Joint Venture Agreement
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. 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 is a duplicate of the document in the Joint Ventures subfolder in the
Corporate folder (Starting Up Group). For a Corporate Joint Venture
Agreement, please see that subfolder which you can reach via this link
For 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.
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. The degree of integration between the joint venture
parties is minimal compared to other legal forms of joint venture.
Because 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. 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 Project itself will be defined and described in Schedule 1. The
Business Plan will also be set out in Schedule 1, and it can be updated by
agreement between the parties. The parties' roles and the resources to be
employed will be set out in Schedule 2. Details of the parties’ financial
contributions will be set out in Schedule 3.
This Contractual Joint Venture Agreement is in open format. Either enter
the requisite details in the highlighted fields or adjust the wording to
suit your purposes. Optional phrases are enclosed in square brackets. These
should be read carefully and selected so as to be compatible with one
another. Unused options should be removed from the document.
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