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Provide a template for a Joint Venture Agreement in a real estate development project
Joint Venture Agreement Template for Real Estate Development Project
Table of Contents
Introduction
Definitions
Formation of the Joint Venture
Purpose of the Joint Venture
Contributions
Management and Control
Profit and Loss Sharing
Accounting and Records
Confidentiality
Term and Termination
Dispute Resolution
Miscellaneous Provisions
Signatures
1. Introduction
This Joint Venture Agreement (the "Agreement") is made and entered into as of [Date], by and between:
Party A: [Full Legal Name], a [Type of Entity, e.g., limited liability company] incorporated under the laws of [Country], with its principal place of business at [Address] (hereinafter referred to as "Party A").
Party B: [Full Legal Name], a [Type of Entity, e.g., limited liability company] incorporated under the laws of [Country], with its principal place of business at [Address] (hereinafter referred to as "Party B").
Party A and Party B are sometimes referred to individually as a "Party" and collectively as the "Parties."
2. Definitions
"Joint Venture": The business arrangement formed by this Agreement.
"Project": The real estate development project described in Section 4.
"Contributions": The resources, including capital, property, and services, provided by each Party as described in Section 5.
3. Formation of the Joint Venture
The Parties hereby agree to form a joint venture (the "Joint Venture") for the purposes and on the terms and conditions set forth in this Agreement.
4. Purpose of the Joint Venture
The purpose of the Joint Venture is to develop, manage, and sell the real estate project located at [Project Location], which includes [brief description of the project, e.g., residential units, commercial spaces, etc.].
5. Contributions
5.1 Party A's Contributions
[Description of Party A's contributions, e.g., land, capital, expertise, etc.]
5.2 Party B's Contributions
[Description of Party B's contributions, e.g., capital, construction services, management expertise, etc.]
6. Management and Control
6.1 Management Committee
The Joint Venture shall be managed by a Management Committee consisting of [number] representatives from each Party.
6.2 Decision-Making
Decisions of the Management Committee shall be made by [unanimous/majority] vote.
7. Profit and Loss Sharing
The profits and losses of the Joint Venture shall be shared between the Parties in the following proportions:
Party A: [Percentage]%
Party B: [Percentage]%
8. Accounting and Records
8.1 Books and Records
The Joint Venture shall maintain complete and accurate books of account and records.
8.2 Audits
The books and records of the Joint Venture shall be audited annually by an independent auditor.
9. Confidentiality
Each Party agrees to keep confidential all information regarding the Joint Venture and the Project, except as required by law or as necessary to perform its obligations under this Agreement.
10. Term and Termination
10.1 Term
This Agreement shall commence on the date first written above and shall continue until the completion of the Project, unless terminated earlier as provided herein.
10.2 Termination
This Agreement may be terminated by mutual written consent of the Parties or by either Party upon [number] days' written notice if the other Party breaches any material term of this Agreement.
11. Dispute Resolution
Any disputes arising out of or in connection with this Agreement shall be resolved by [arbitration/mediation] in accordance with the rules of [Arbitration/Mediation Institution].
12. Miscellaneous Provisions
12.1 Governing Law
This Agreement shall be governed by and construed in accordance with the laws of [Country].
12.2 Entire Agreement
This Agreement constitutes the entire agreement between the Parties and supersedes all prior agreements and understandings.
12.3 Amendments
This Agreement may be amended only by a written instrument signed by both Parties.
13. Signatures
IN WITNESS WHEREOF, the Parties have executed this Joint Venture Agreement as of the date first above written.
Party A:
[Full Legal Name]
[Title]
[Date]
Party B:
[Full Legal Name]
[Title]
[Date]
Sources
TLDR
This template provides a comprehensive structure for a Joint Venture Agreement in a real estate development project, covering key aspects such as contributions, management, profit sharing, confidentiality, and dispute resolution.
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