International trade center contractual joint venture is the agreement of two or more corporation in achieving a specific project which is to have a trade or business internationally with their partners abroad. It is a cooperative and organized trade abroad by two or more ventures located overseas in which they combine their expertise, resources and products while still maintaining their independence from each other, it may involve, production, research, distribution or management of a facility..
It is not merely creating a new corporate body from the alliance but having their collaboration to each other in having a trade from one country to the other. It is a contractual agreement so it has limited time and scopes. It has benefits like less taxes from the government, flexibility of the joint venture as it is not hold by any corporate law, less liability from loss and debt from the joint venture making the involved parties severally liable. Amendments and agreements for the contract should be signed and approved by the involved parties so they will know their task and responsibilities in joining an international trade joint venture.