The joint venture operating contract is a legal document or agreement signed between two parties, both of whom are companies or organizations. The premise of this contract is operations and working on the company created as a part of the joint venture contract.
Sample joint venture operating contract
Contract number: JVOC/91ij47/29/2011
Effective Date of contact: November 29th, 2011.
This joint venture contract is an official operating agreement that comprise of terms and conditions, which are agreeable to either party involved and will be for the purpose of creating a stronger hold in the industry.
Whereas Company A is located at
Address: 65 Anderson Street #3B 4A,
Boston MA 02114
Phone: (617) 624-2828
Whereas the Company B is located at
Address: 428 N Simpson Street,
Philadelphia PA 19151
Phone: (215) 477-3711
Following terms and conditions are important aspect of the joint venture operating contract and need to be followed:
- Business:Both parties involved in this venture – “Boston Barnes” and “Orange Loop” will operate the joint venture company in the area decided in the contractual terms and agreement. Both companies will work towards registering the business and establishing it in accordance to the rules and regulations of the state it will be operating from.
- Additional Financing:If at any given point in time, if either parties – “Boston Barnes” and “Orange Loop” feel the need for additional finance apart from the initially invested capital then they can draw the required amount of funds from the revolving loan agreement.
- Operation & Management:Shareholders of either company – ” Boston Barnes and “Orange Loop” will form the board members of the joint venture company and agree to operate the company in accordance to the various terms and conditions agreed upon.
Both the parties are requested to validate the contract:
Signature on behalf of the Boston Barnes:
Signature on behalf of the Orange Loop: