Joint Venture Agreement

Joint Venture Agreement

THIS JOINT VENTURE AGREEMENT ("Agreement"), made and entered into this day of_____,20___ by and between ______, a Broward corporation and ______, a Broward corporation:

The parties hereto shall be referred to hereinafter collectively as "the joint ventures" or individually by their surnames.

WITNESSETH:

WHEREAS, the parties hereto are desirous of forming a joint venture; and

WHEREAS, it is the desire and intention of the parties hereto to associate as joint venturers in a joint venture relationship; provide for the common ownership and management of the joint venture business; and define and prescribe the rights, interests and duties of the respective joint venturers in and to the joint venture; and

WHEREAS, said parties desire REAS, said parties desire to be joint venturers in and to use said assets for the joint venture business; and

WHEREAS, the parties deem it advisable to enter into a Joint Venture Agreement as of this date;

NOW, THEREFORE, IT IS HEREBY MUTUALLY AGREED, in and for the consideration of the benefits, covenants, and agreements made and of $1.00 and other good and valuable consideration, receipt of which is hereby acknowledged, the parties hereto agree as follows, to-wit:

1.AGREEMENT. The parties hereby agree they will become and be parties in a joint venture for the purpose and upon the terms hereinafter stated.

2.NAME. The name of the joint venture shall be ______, a joint venture.

3.PLACE OF BUSINESS. The principal place of the joint venture business shall be carried on and conducted at Avenue Broward, or such other place as from time to time may be deemed advisable.

4.PURPOSE. The parties shall and do hereby, as joint venturers, engage in conducting at the joint venture place of business a general business of preparing contract bid proposals for the Broward Department of Transportation improvements and opportunities pursuant to contracts documents, including instructions to bidders for bidding to said Broward Department of Transportation (hereinafter referred to as "the Contracts"). Further, it is the express intent and purpose of this Agreement, to, among others, comply with the provisions of 1987 Broward Act 399 pertaining to the disadvantaged business demonstration and training program.

5.AUTHORITY. The representatives designated herein are empowered to act on behalf of the Joint Venture pursuant to and under Section 66.905 Broward Statutes. The authority granted to these representatives may, from time to time, be extended or otherwise confirmed by a written document signed by the parties hereto.

Any party may, at any time, and from time to time, change its representative by filing with the project manager a notice and duly executed appointment of a new representative or alternate, but until the appointment and filing of notice the actions of the representative hereby appointed shall be conclusively binding on such party.

It is the intent of the parties that major policy decisions respecting the contracts shall be the responsibility of the Joint Venturers, by the recognition that major policy determination shall meet and comply with the provisions of the 1987 Broward Act 399. The actual prosecution of the contract work shall remain the primary responsibility of the representatives of the parties and their authorities shall be commensurate therewith.

The bid, as finally submitted, shall take into account the value of the use of any equipment and man hours furnished by the parties hereto.

All employees of any party who are engaged in the Joint Venture work shall be fully compensated by the Joint Venture. Each party employer shall be responsible for the corresponding compensation of the employee so engaged by each party employer in Joint Venture work, including payroll taxes and insurance, vacation benefits and other fringe benefits in accordance with the party-employer policy.

3.MANAGEMENT.

6.1 Manager. It is herein agreed that the project manager of managing partner shall be ______, with assistance supervisory capacity under 1987 Broward Act 399 disadvantaged business demonstration and training program from ______, project manager, or his assign, shall receive and transmit all correspondences and notices, administer the project on behalf of the Joint Venture, keep the books and accounts, receive and disburse all invoices, checks and furnish phone, office and staff to implement the above.

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