Joint Venture Agreement

Joint Venture Agreement

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The Joint Venture Agreement below becomes effective on (date).  This agreement is made between (company or individual name), hereafter called the “First Joint Venturer” under the laws of (state) with the main office at (address)  and (company/individual) hereafter called the “Second Joint Venturer” under the laws of (state) with the main office at (address).
This Joint Venture Agreement formed by the First Joint Venturer and the Second Joint Venturer is for the sole purpose of (provide details of the joint venture).
1.    Business Formation and Location
1.1 As per Joint Venture Agreements the Venturers agree to form this joint venture in compliance with laws of (state)  or any other state the Venturer chooses to operate.
1.2 The Venture will be located principally at (address) but will allow for relocation or the opening of multiple offices.
2.    Purpose
2.1 The business Venture in this Joint Venture Agreement is (describe business) with product/ service amount of (dollar amount).
3.    Term of Joint Venture Agreement
3.1 This Joint Venture Agreement will begin on the date herein and will be terminated either upon completion of this project including receipt of full payment, or by agreement of both Venturers.
4.    Participation
4.1 Both parties concur that any losses incurred from this Joint Venture will be shared equally.
4.2 Should one of the Venturers be forced to pay losses connected to this venture in excess of the participation percentage, the other Venturer will reimburse the other Venturer to the extent that both own their percentage of participation loss.
4.3 Both Venturers agree to hold each other harmless from losses generated from the Venture beyond the Participation Percentage provided the losses are directly related to this Joint Venture Agreement.
4.4    Each Venturer agrees to contribute to the Venture agreement in accordance with the value of their respective interests.
4.5    The percentage interest of each Venturer shall be as follows (describe).
4.6    Neither Venturer can remove their initial capital contribution except as laid out by this Joint Venture Agreement.
5.    Profits and Losses
5.1 Profits shall be paid pro rata to each Venturer based on their respective percentage interests.
5.2 Net loss in per Joint Venture Agreements shall be divided based on the Venturers respective percentage interests.
5.3 Cash distributions shall be paid out pro rata based on the percentage interests of each Venturer.
6.    Policy
6.1 Each Venturer shall have a vote that is equal to their respective Participation Percentage. As such each party in the Venture is awarded the following number of votes (list).
6.2 Each Venturer can name representatives via written notice to act on behalf of the Venturer in all matters pertaining to the interest of the Joint Venture.
7.    Delegation of Responsibility
7.1 Per this Joint Venture Agreement (name) shall be responsible for all payroll and bookkeeping.
7.2 Per this Joint Venture Agreement (name) shall be responsible for managing the work on the project.
7.3 The Venturers name (name) as General Manager who will be enforced with maintaining performance as per this contract
8.    Disputes
8.1    If at any time the Venturers dispute an issue the Venturers agree to settle the dispute via arbitration and waive a trial by jury.
The Joint Venture Agreements will be governed by the laws of (state) and executed this day (date).
First Joint Venturer                                     Second Joint Venturer
__________________________                 _________________________
Authorized Signature                                     Authorized Signature
________________________                  ___________________________
Printed Name and Title              Printed Name and Title

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