A joint venture contract is an agreement between two people to carry out a business together. A joint venture contract example outlines the rules, responsibilities, investment structure etc. in order to facilitate the joint venture. A joint venture contract is usually signed in presence of two witnesses to ensure no fraudulent practices are carried out.
Sample Joint Venture Contract Example
This joint venture has been created on 22nd August 2005
John. H. Patrick (First Joint venturer)
Tom. Swank (Second Joint Venturer)
(hereinafter to be addressed as ‘joint venturer/ joint venturers)
The Joint venturers herby agree to form a co-operative association in order to conduct business of dealing in computer components under the name of Micron technologies Inc.
The Joint Venture term shall be of three years from the date of signing the agreement.
The total investment toward the company shall be $ 25,000
First joint venturer capital $ 15,000
Second joint venturer capital $ 10,000
The acquired funds shall be deposited in Bank of America under a joint account held by the joint venturers. Any use of the funds shall be granted only if signature of both the joint venturers is present.
The profits and losses shall be calculated according to proper accounting practices. Losses shall be dealt by both the joint venturers.
This joint venture shall be reviewed under the law of United States of America. Any disputes regarding the agreement shall be settled with the concerning authorities.
The terms and conditions of the agreement are stated in the Appendix B
The agreement has been signed by the Joint Venturers in witness of
First Joint venturer Second Joint Venturer
Alyson. Jose Mike Payson
1709, 10th street, 51st Main Street
San Jose, California San Jose, California
(In witness of) (In witness of)