Joint Venture (JV) / Consortium Agreement (Brief Framework)

Joint Venture (JV) / Consortium Agreement (Brief Framework)

(Printed on ₹100 or ₹500 Non-Judicial Stamp Paper and strictly Notarized. Used when two companies combine strengths to bid.)

JOINT VENTURE AGREEMENT

This Joint Venture Agreement is made on this [Insert Date] between:

M/s [Name of Lead Member], having its registered office at [Address] (hereinafter called the "Lead Member").
AND
M/s [Name of Partner Member], having its registered office at [Address] (hereinafter called the "Partner Member").

WHEREAS the [Insert Buyer Department] has invited bids for the work of [Insert Tender Name and No.].
AND WHEREAS the parties have agreed to form a Joint Venture to jointly submit a bid, execute the contract, and share the responsibilities.

NOW THIS AGREEMENT WITNESSETH AS FOLLOWS:

• Lead Member: M/s [Name of Lead Member] shall act as the Lead Member of the JV and is authorized to sign all documents, submit the bid, and receive payments on behalf of the JV.
• Joint and Several Liability: Both parties shall be jointly and severally liable and responsible to the Employer/Buyer for the successful execution of the contract.
• Share of Responsibilities / Profit: The share of work, financial investment, and profit/loss shall be in the ratio of:
  • Lead Member: [e.g., 60%]
  • Partner Member: [e.g., 40%]
• Validity: This agreement shall remain valid throughout the bidding process and, in the event of winning the contract, throughout the execution and defect liability period of the contract.

(Signatures of Authorized Signatories of both Lead Member and Partner Member)
(Signatures of Two Witnesses)
(To be Notarized)