JV AGREEMENT

This JV is made of this ____ day of _________, between the ________________

(_____ ) (hereafter called the Project Vendor (Party-1) which expression shall include
the successors, legal representatives and permitted assignees of the one part And
_______________________ (hereafter called the Project Manger (Party-2) which
expression shall include the successors , legal representatives and permitted assignees
of the other part WHEREAS the Project Vendor (Party-1) is desirous that
_____________________ ___________) at ________________________shall be
executed & completed by the Project Manager (Party-2) and has accepted the offer of
Party-2 for the execution and completion of the Project.
Now therefore, the parties agree as follows:-
1. SCOPE WORK The detailed scope of work is as under:-
Design & Construction of
a) External Roads (As Per Approved Master Plan & Specs)
b) External Drains Up to Lagoon (As per Approved Design & Specs)
c) Lagoon (As per approved Design & Specs).
d) External Water Supply (As per Approved Design & Specs)
e) HT & LT Network (As per Approved Design & Specs).
2. SPECIFICATIONS /WORKMANSHIP OF THE WORK workmanship of works
shall be those shown on drawing & specifications. All the works shall be executed by
Project Manager (Party -2) as per standard engineering practices, with the best
possible workmanship and to the satisfaction of project Vender (Party-1) / Site
Engineer or Quality team/Inspector deployed by Party-1.
3. TIME FOR COMPLETION the whole works shall be completed by __________
subject to the availability of cash Flow Site Clearance & Managerial Issues.
4. VALUE OF WORK /RATES FOR PAYMENT The work shall be executed on
Cost to Cost basis. This includes the cost of Material, Labor & other Site expenses only.
Both Parties has agreed to execute this JV agreement on Profit & Loss Sharing Basis
of ____& _____ Upon completion of project, the ____ ration of earned profit/ Loss will
be reserved with Project Vender (Party-1) while remaining ____will be awarded to the
Project Manager (Party -2).
Project, the ____ratio of earned profit / loss will be reserved with Project Vender (Party-
1) while remaining ____will be awarded to the project Manager (Party-2).
5. MODE OF PAYMENT the Project Manager (Party-2) shall submit running/final
bills to the Project Vender (Party-1) On work done basis and payments by the Party-1
will be made to the Party -2 after technical scrutiny of the bill/work done. For advance
procurement purposes, Party-2 could avail ____ Secure Advance (if required on mutual
understandings.
6. QUALITY ASSURANCE the Project Vender (Party-1) shall deploy a Quality
Team jointly with Project Manager (Party-2) & Clients __________ ______. The team
will visit the site fortnightly for quality assurance shall be submitted by Party-2 & will be
signed by Quality Assurance Team. Any Discrepancies found in work done, shall be
intimated on same report for immediate implementation. Any kind of dismantling /
removal or execution of works after the Quality Assurance Teams report shall be
considered additional works.
7. TERMS & CONDITIONS legal & other Terms & Conditions.
In witness whereof both parties hereto have caused this agreement to be executed the
day and year written above in accordance with the prevailing laws.

Signature of Project Vender (Party-01) _____________________________

Signature of Project Manager (Party-02)____________________________

Witness No 1 __________________________________________________

Witness No 2__________________________________________________