A Joint Venture Development contract is a document which is formal in nature and is formed between two parties who agree to the mutual development of a joint venture business or product. Such a contract is signed on the basis of certain covenants and obligations.
Sample Joint Venture Development Contract:
Contract Number: AD564/KL9
Date of Contract: 6th June, 2011
This Joint Venture Development Contract is entered into by and among the parties whose details are given as follows.
Name: Mr. Jacob Davis
Address: FT-90, Second floor, Moors building, CA
Contact number: 483983095508
Name: Mr. Kelly Hopes
Address: AF-10, third floor, Parks Avenue, CA
Contact Number: 4809358589504
Both the parties agree on the joint venture development of single family home ownership units.
The VENTURE is subject to the laws of the state and the parties agree upon their respective responsibilities, duties, obligations and covenants.
The following is the purpose of the VENTURE:
- The venture deals with the development of the land and property and to acquire the financing and develop the rehabilitate single family housing for sale to the buyers for a fixed price.
The following are the certain obligations and terms of the contract:
- Any of the parties cannot designate the VENTURE responsibility to any successor in any condition.
- The financial expenditure in this joint venture shall be done equally by both the parties and all the bills should be attached with the report.
- The venture shall not pay interest on capital contributions of any of the two venturers.
The following are the signatures of the involved parties:
Jacob Davis Kelly Hopes