PRE-BIDDING JOINT VENTURE AGREEMENT
in respect of
THE PRE-BIDDING JOINT VENTURE AGREEMENT
This Pre Bidding Joint Venture Agreement (“The Agreement”) entered into as of this _________ day of ________________, 20___ (being the actual date on which the Agreement will be signed) by and between:
(A) Company A with their office at ___________ (hereinafter called “Party A”) of the one part
(B) Company B with their office at _________________ (together with its successors and assignees hereinafter called “Party B”), of the other part
Both parties shall be jointly referred to as the “Parties”.
Whereas the parties hereto desire to submit a joint bid to _____________(hereinafter referred to as the "Owner"), for the construction of ________________(herein called the "Work").
WHEREAS, the parties each hereby certify and represent to each other their ability to provide their respective share of bonding capacity, finances, personnel, equipment and supervision to complete the work in the event they are the successful bidder and to sustain and pay for any losses that may be incurred;
NOW THEREFORE, it is hereby agreed between the parties hereto as follows:
1. They will jointly prepare a bid to be submitted to the Owner for a contract for the Work.
2. The bid shall be submitted in the names of the undersigned as joint venturers and should a contract for said Work be obtained as a result of such bid, such contract shall be taken in the names of the undersigned, as joint venturers, or in such other name as may be agreed upon by the undersigned with the consent and approval of the Owner.
3. Each and every obligation created by any such bid or contract shall be the joint and several obligation of the undersigned.
4. The interest of the undersigned in any such contract, if obtained, and in the Work shall be...