Joint Venture Development Agreement


A joint venture development agreement is made when two businesspersons or parties want to initiate a joint venture for development project. The agreement lays down the details of project, share of profit and loss etc. for both partners and the other related details.

Sample Joint Venture Development Agreement

This agreement is signed between the PARTNER 1 and the PARTNER 2 on 27th April 2011 and it will be effective from 15th May 2011.

The duration of agreement will be 3 years.

The agreement will start a partnership between both partners to establish a textile-manufacturing unit and its further expansion. Both the parties will invest equal money to create capital assets of unit. The manufacturing unit’s ownership documents will contain both partner’s names and claims.

Details of Partner 1

Name: Greg Wilkinson

Contact Number: 4830126978

Business details: The individual owns an investment firm.

Details of Partner 2

Name: Jack Morgan

Contact Number: 4869720163

Business Details:  The Person is running wholesale textile agency.

Terms and Conditions of the agreement that will be followed by both parties

  1. Both partners will have equal shares in the proposed unit and any expansion plan of business will require written consent of both the partners.
  2. Either party can walk away from the agreement by giving a prior notice of three months. In that case, that party has to disclaim his rights of equal share in profit and they will not be a part of any activity/matter of business.
  3. Both parties will solve their disputes by mutual discussions and other valid ways.

Signature

Greg Wilkinson

Jack Morgan

Category: Development Agreements

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