Fidic Model Joint Venture (Consortium) Agreement
Each member of the joint venture is generally jointly responsible and is responsible for the provision of services under the main service agreement with the customer and any violation of this agreement. [Members` name] – „Members name“) have agreed to create a joint venture to provide these professional engineering services, the joint venture cannot act with legal force (or have a binding effect on all members of the joint venture) if no one represents them. The normal legal approach is for members to act together on behalf of the joint venture. The natural result is that unanimity is necessary. This is not a truly viable approach. The obligations arising from a main service contract with the client, z.B. „Customer/Consultant Services Agreement“ (the White Paper), are borne by the joint venture. It is up to each member to agree on the distribution of the same commitments and commitments within the joint venture, notwithstanding the fact that, as a general rule, each member is jointly responsible to the client for the provision of services within the framework of the main service agreement with the client and any violation of those obligations. At the same time, the division of tasks and commitments requires that the members of the joint venture coordinate their efforts effectively and effectively. Individual interest cannot always prevail. To succeed as a joint venture, members must commit to developing joint efforts to deliver and create services and to reach agreement on changes to services and other day-to-day issues. If members do not, effective contractual mechanisms must be put in place to avoid disadvantages or disadvantages for the joint venture and its members. Some of the most important points addressed in the FIDIC agreement are that users should check, on a case-by-case basis, the exact nature of the agreement in light of current legislation, provided that the lowest level of the alliance is envisaged.
This Joint Venture Agreement Model does not create a legal entity, but is an agreement between the parties to participate in a particular project. You can find more information about cooperation in our Joint Business Practices Guide (available to Planned Cover insurance customers with login) or you can purchase a recording of our November 2017 webinar, Working Jointly – Responsibilities and Risks. This model of joint enterprise agreement will allow the parties to agree, on a project-specific basis, on their commitments, services and revenues within the joint venture created by the effect of this joint enterprise agreement. There are no plans to create or use a legal entity to create a legal association that is not specific to a more sustainable project. These two model agreements are compatible with the fifth edition of the FIDIC „Customer/Consultant Model Services Agreement“ (The White Paper) 2017. Fidic intends to publish guides on the use of all these agreements. Members of the joint venture should agree, at all times, to a common effort to change the scope of services and other challenges until the end of services. If there is no agreement, all members may be held responsible for non-compliance with their obligations due to differences of opinion among the members of the joint venture.