A joint project agreement is an official document drafted when two or more individuals or organizations decide to work upon and complete a certain project together. The details mentioned in the agreement include nature of the project and the terms and conditions that both the parties need to follow.
Sample Joint Project Agreement
This joint project agreement has been drafted and entered into between Sam Worthy residing at 56 Yearly Good road, New York, New Jersey and Tom Hanks residing at 34 Rain Fall Street, New York, New Jersey as on this day of 23rd November 2011.
As per the agreement both the parties have mutually taken responsibility to organize a fashion event on the day of 30th November 2011.
There are few terms and considerations that both the parties have to take in consideration after entering into this agreement:
The total budget of the fashion show should not exceed the amount paid by the client. Any amount paid by sponsor will be put into the event after deducting the amount paid by the client.
The venue and the team will be decided by Larry Flint. Tom Hank has to take the responsibility of directing the event.
The profit amount has to be shared on an equal percentage.
If either of the parties is found neglecting their duties after the agreement goes into effect, the agreement will be cancelled.
The agreement is valid till the day the project is over. If both the parties want to continue working together, they will have to renew the agreement.