Hi,
I'm considering entering into a JV with someone.
Do you know of anywhere I can locate a JV contract, or something else that covers all possible contigencies that I can use to draw up a contract?
If possible, a link to an online template would be preferable.
Thanks
Hi Happyjack
JV agreements or any other agreements need to relate specifically to the parties needs. So any agreement you use needs to be tailored to the specific venture.
If you send me your email address I am happy to send you some info. Check your emails.
Happy writing
Claire
ccprojects
A joint venture is a legal agreement between two or more parties that come together to generate profit. Generally, each party contributes something of value – perhaps assets, cash or knowledge – in return for a share of the net profit.
A joint venture is not a partnership, but a separate legal arrangement. Each joint venture is very unique and so the agreement must be sufficiently detailed and issues it should cover include:
- Purpose of the joint venture
- Each party’s role and responsibilities
- Initial and ongoing contributions that each party makes
- Share of ownership and profit/income
- Appointment of Manager, detailing duties and obligations
- Duration, ie a set project or ongoing.
- Dispute resolution
- Sale of Interest.
I'd suggest you draft an agreement covering these points then take it to a Solictor to prepare.
check out http://www.lawcentral.com.au for their agreement on buying property together
Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email MeLawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
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