Joint Venture Agreement

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I wish to know...Is a "Teaming Agreement" or a "Partnership Agreement" acceptable equivalent for a Joint Venture Agreement?

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Joint Venture Agreement

Post by Smoochie on Thu Sep 29, 2011 5:00 pm

I wish to know...Is a "Teaming Agreement" or a "Partnership Agreement" acceptable equivalent for a Joint Venture Agreement?

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Re: Joint Venture Agreement

Post by RDV @ GP3i on Thu Sep 29, 2011 6:23 pm

Smoochie wrote:I wish to know...Is a "Teaming Agreement" or a "Partnership Agreement" acceptable equivalent for a Joint Venture Agreement?

I think it could be acceptable equivalent so long as the partners in the agreement are clearly holding themselves solidarily and jointly liable under the said agreement.

For purposes of participating in the bidding process, even in the absence of a Joint Venture Agreement, just a sworn statement by the potential partners that they would abide by a JVA that they promise to enter into once the contract is awarded to them is already considered sufficient.
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Re: Joint Venture Agreement

Post by engrjhez® on Thu Sep 29, 2011 10:13 pm

Smoochie wrote:I wish to know...Is a "Teaming Agreement" or a "Partnership Agreement" acceptable equivalent for a Joint Venture Agreement?

My vote: YES. Substance over form. I believe if it serves the same purpose of JV, it may be acceptable (as equivalent to JVA). Smile
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Re: Joint Venture Agreement

Post by Smoochie on Fri Sep 30, 2011 11:52 am

Thank you very much for your replies..

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Re: Joint Venture Agreement

Post by TalnaPj on Tue Oct 04, 2011 10:24 am

This might help answer your question.

1. Joint venture involves two or more companies joining together in business. In partnership, it is individuals who join together for a combined venture.

2. A Joint Venture is a contractual arrangement between two companies, which aims to undertake a specific task. Partnership involves an agreement between two parties wherein they agree to share the profits and losses.

Definitely, the two are acceptable in joining a public bidding; provided that, both "partners" or "contracting entities" have legal personalities and possess all the requirements set under RA 9184 and its IRR to make transactions with the government.
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Re: Joint Venture Agreement

Post by RDV @ GP3i on Tue Oct 04, 2011 12:39 pm

TalnaPj wrote:This might help answer your question.

1. Joint venture involves two or more companies joining together in business. In partnership, it is individuals who join together for a combined venture.

2. A Joint Venture is a contractual arrangement between two companies, which aims to undertake a specific task. Partnership involves an agreement between two parties wherein they agree to share the profits and losses.

Definitely, the two are acceptable in joining a public bidding; provided that, both "partners" or "contracting entities" have legal personalities and possess all the requirements set under RA 9184 and its IRR to make transactions with the government.

The Supreme Court, in Kilosbayan vs. Guingona, defined Joint Venture as “an association of persons or companies jointly undertaking some commercial enterprise; generally, all contribute assets and share risks. It requires a community of interest in the performance of the subject matter, a right to direct and govern the policy in connection therewith, and [a] duty, which may be altered by agreement to share both in profit and losses.”

A JVA could also be called a "consortium agreement".

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