A partnership joint venture is the term which is used to refer to a situation where two or more than two persons or parties come together to work towards a common motive and divided duties, costs, responsibilities and tasks between them in a certain percentage.
In most of the cases of partnership joint venture, the involved parties decide to record their mutually discussed terms in the form of a written contract. Such a contract is thus termed as a partnership joint venture contract. A partnership joint venture contract is a very important and legally binding document which authorizes the parties to fulfil their duties and pay their share of money for the joint venture.
Partnership joint venture contract can be of many types and some examples include business partnership joint venture contracts, music album partnership joint venture contract, engineering partnership joint venture contract etc. whatever be the type of contract, the contract document must include the names, contact numbers and addresses of the parties as well as the detail of the project or venture which they will be working together on. The financial information relating to the ratio of profits and losses must also be given in the partnership joint venture contract.
Sample Partnership Joint Venture Contract: