joint venture agreement

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joint venture agreement

Post by isabelo c. rodriguez on Mon Mar 26, 2012 8:32 pm

hi everyone! i'm new in this loop and i still do not know how things are done properly here. anyway, i have two questions which some of you may find rather easy to answer. but just the same, i need your expert opinions on this. my first question is: is a special/joint license from PCAB, not required in a JVA when one of the partner is non-PCAB-licensed? a reading of NPM 098-2004 and NPM 007-2011 refer only to "contractors" and we understand this to mean as civil works contractors. in both cases, a joint license is obviously required if the JV partners are PCAB-licensed. what if one of them is not? our contractor insisted that it is not required since the project does not involve civil works. is he correct? my second question is: what other documents should the JV partnership submit granting it is declared as the LCRB by the BAC? is SEC registration one of them? thank you!

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Re: joint venture agreement

Post by RDV @ GP3i on Mon Mar 26, 2012 9:29 pm

isabelo c. rodriguez wrote:hi everyone! i'm new in this loop and i still do not know how things are done properly here. anyway, i have two questions which some of you may find rather easy to answer. but just the same, i need your expert opinions on this. my first question is: is a special/joint license from PCAB, not required in a JVA when one of the partner is non-PCAB-licensed? a reading of NPM 098-2004 and NPM 007-2011 refer only to "contractors" and we understand this to mean as civil works contractors. in both cases, a joint license is obviously required if the JV partners are PCAB-licensed. what if one of them is not? our contractor insisted that it is not required since the project does not involve civil works. is he correct? my second question is: what other documents should the JV partnership submit granting it is declared as the LCRB by the BAC? is SEC registration one of them? thank you!

If the JV is participating in a bidding of a non-civil works project, it is not required to submit a special PCAB license since a PCAB license is a requirement only for civil works project.

On the second question, if the JV has not yet submitted a JVA, then it has 10 c.d. to submit the Agreement after receipt of the NOA. There is no requirement that the JVA be registered with the SEC.
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Re: joint venture agreement

Post by isabelo c. rodriguez on Mon Mar 26, 2012 10:51 pm

thank you sir rdv for the quick response. however, your answer to my second question leaves me confused. on august 11, 2010 in response to a query posted by ramoncito, you mentioned among others that... " yes, the JV has to register with the SEC in order to attain a juridical personality distinct from the members"... could you enlighten me on this sir?

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Re: joint venture agreement

Post by RDV @ GP3i on Tue Mar 27, 2012 6:47 am

isabelo c. rodriguez wrote:thank you sir rdv for the quick response. however, your answer to my second question leaves me confused. on august 11, 2010 in response to a query posted by ramoncito, you mentioned among others that... " yes, the JV has to register with the SEC in order to attain a juridical personality distinct from the members"... could you enlighten me on this sir?

For bidding and for entering into a contract with procuring entities, SEC registration of the JV is not a requirement. Meaning, if the JV does not register with the SEC it should not be disqualified.

However, if the JV itself wants to have a juridical personality separate from the members comprising the JV itself, it may choose to register the JV with the SEC. It is not a requirement but a choice that the JV partners may also explore.
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