An unincorporated joint venture for a specific project. Two joint venture partners join forces to complete a particular project. The agreement ensures the relationship is characterized as a joint venture and not a partnership, agency or trust. A management committee is constituted to undertake the business of the joint venture and represent each party. The agreement covers the mechanics of the joint venture project including:
- Meetings of the management committee
- Voting rights of joint venturers
- Decision making procedures
- Appointment of a project manager
- Mutual indemnity
- Winding up of the joint venture.
- apportionment of profits and losses.
Most variables are contained in a Schedule to the agreement for ease of drafting. Fully formatted in Microsoft word, ready to download edit and use. 9 pages long.