Joint Venture and registering to SEC

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Joint Venture and registering to SEC

Post by new_heart00 on Mon Nov 21, 2016 2:41 pm

Hi everyone. I have a question regarding participating in a bidding as a Joint Venture.

The purpose of our company to participate as part of a joint venture is because of this:

"The Government also recognizes the need to encourage small and medium businesses which are unable, either technically or financially, to carry out a business undertaking on its own, to solicit the assistance of capable or bigger businesses through a Joint Venture, thus, it is sufficient that the Technical Documents and the Financial Documents under the eligibility requirements should be complied with by at least one of the members of the Joint Venture for purposes of determination of its eligibility (Ibid).

The Technical Proposal and Financial Proposal envelopes shall be submitted in the name of the joint venture by its authorized representative. " (from http://www.gppb.gov.ph/opinions/view_nonpolicy.php?id=429)

We will be submitting individual documents as stated in the Bid Tender for the legal requirements. See below my questions:

(1) In the [Name of Bidder], do we put our company name since we are the lead company in this venture or do we put: Lead Company in Joint Venture with Company B?

(2) Once awarded, do we need to register our JV with SEC? Our interpretation is that there is no need since we will be the lead and all the Delivery Receipt/Sales Invoice/Official Receipts etc. will be under our company name.

Thanks for your reply!

new_heart00
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