ICC Model Contract - Joint Venture

No. 780E

ISBN : 978-92-842-0376-5

In complex transactions, international as well as national co-operation between companies require solid and balanced terms and conditions.

ICC has prepared this Joint Venture Model Contract for use by small, medium-sized or large companies in order to provide them with a unique, balanced platform that is fair to all parties.

The model allows for a solid decision-making process, a clear allocation of participation and provision of resources, the need for swift and effective dispute resolution, and the need for complete and informed allocation of risks.

It includes a USB key which contains the full text of the model and its annexes, permitting you to easily adapt the contract to your specific case. If parties have no need to draw up a special contract of their own, they can use the entire model, which has been drafted to assure balance for both sides.

Code ISBN : 978-92-842-0376-5
Weight : 0.2900 kgs
Number of pages : 45
Publishing date : 2018
Language : English
Format in cm : 21*29.7

FOREWORD 

INTRODUCTION 

MAIN AGREEMENT FORM 

SECTION I: SPECIAL CONDITIONS 

SECTION II: GENERAL CONDITIONS 

1.    ARTICLE 1: DEFINITIONS AND INTERPRETATION

1.1. Wording of the Agreement

 

2.    ARTICLE 2: FORMATION OF THE JOINT VENTURE

2.1. Object and Purposes

2.2. Administrative Office

 

3.    ARTICLE 3: FINANCIAL PLANS, CONTRIBUTIONS, PROFIT AND LOSS SHARING

3.1. Financial plans

3.2. Contributions

3.3. Warranties on Contributions

3.4. Profit and Loss Sharing and Distribution

3.5. Shared Assets

3.6. At the Termination of the Joint Venture:

 

4.    ARTICLE 4: ORGANISATION AND DECISION MAKING

4.1. General Organisation

4.2. Steering Committee

4.3. Project Management

 

5.    ARTICLE 5: PRINCIPLES OF JOINT OPERATION

5.1. Good Faith and Fair Dealing

5.2. Duty to Inform and Co-operate

5.3. Exclusivity

5.4. Same Regard to the Best Interests of the Joint Venture as to Individual Interests of the Joint-Venture Members

5.5. Non-payment by Employer

5.6. No Authority to Represent

5.7. Prohibition of Corruption

5.8. Compliance with Applicable Laws and Standards of Ethics

 

6.    ARTICLE 6: PREPARATION, SUBMISSION AND ACCEPTANCE OF THE OFFER

6.1. Preparation of the Offer

6.2. Non-award of Contract

 

7.    ARTICLE 7: SECURITIES

 

8.    ARTICLE 8: INSURANCE

8.1. Work Insurance

8.2. Other Insurance

 

9.    ARTICLE 9: FINANCIALS AND ACCOUNTING

9.1. Joint-Venture Account

9.2. Invoicing

9.3. Payments

9.4. Financing

9.5. Unpaid Working Capital

9.6. Accounts

 

10. ARTICLE 10: TAXES

10.1.            Tax Obligations

10.2.            Value-Added Tax

10.3.            Taxation of the Joint Venture

 

11. ARTICLE 11: CONFIDENTIALITY

 

12. ARTICLE 12: LIABILITY

12.1.            Liability towards the Employer and/or Third Parties

12.2.            Liability towards the other Joint-Venture Members

12.3.            Liability of the Joint-Venture Project Management and Limitation of Liability

12.4.            Exclusion of further Claims

 

13. ARTICLE 13: EXPULSION

13.1.            Grounds for Expulsion

13.2.            Procedure of Expulsion

13.3.            Continuation of the Joint Venture

13.4.            Use of Property

13.5.            Liability for Work Provided

13.6.            Liability for Damages

13.7.            Execution by Substitution

 

14. ARTICLE 14: DURATION AND TERMINATION

14.1.            Effective Date

14.2.            Causes for Termination

14.3.            Consequences of Termination

 

15. ARTICLE 15: CLAIMS, DISPUTE RESOLUTION AND ARBITRATION

 

16. ARTICLE 16: CHOICE OF LAW

 

17. ARTICLE 17: MISCELLANEOUS

17.1.            Duty to Mitigate

17.2.            Assignment

17.3.            Amendments

17.4.            Communications in Writing

17.5.            Written Form

17.6.            Partial Invalidity, Omissions

17.7.            Language of the Agreement, Correspondence, Documentation

17.8.            Waivers

17.9.            Entire Agreement

17.10.         Counterparts

17.11.         Announcements

17.12.         Alleging Lack of Capacity

17.13.         Waiver of Sovereign Immunity and Similar Privileges

17.14.         Provisions to Continue

 

ANNEX 1: CONTRIBUTIONS 

ANNEX 2: FINANCIAL PLANS 

APPENDIX I: ICC ANTI-CORRUPTION CLAUSE 

ICC INTERNATIONAL CONTRACTS SERIES 

ABOUT THE INTERNATIONAL CHAMBER OF COMMERCE (ICC)

This model contract, one of a successful series produced by the ICC Commission on Commercial Law and Practice under the Co-chairmanship of Fabio Bortolotti (Italy) and Ercüment Erdem (Turkey), has benefited from the active participation of the following members of the Major Project Group, co-chaired by Eric Eggink (Netherlands) and Isabelle Smith Monnerville (France): Ben Beaumont (UK), Erick Castellanos (Colombia), Bettina Geisseler (Germany), Francine Gurral (France), Giovanni Leo (Italy), Linna Li (China), Jens Machoy (Germany), Galyah Natan-Epstein (Israel), Rana Obeid (UAE), Arnoud Penseel (Netherlands), Claudio Perrella (Italy), Helena Prata (Angola). Secretariat leadership was provided by Emily O’Connor, Senior Policy Executive, ICC Commission on Commercial Law and Practice, and administrative support by Florence Binta Diao.

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