Drafting for particular types of contractual joint venture

The following Commercial practice note provides comprehensive and up to date legal information covering:

  • Drafting for particular types of contractual joint venture
  • Consortium bids
  • Parties' obligations
  • Finance
  • Project agreements
  • Research and development agreements
  • Specialisation agreements

Drafting for particular types of contractual joint venture

This practice note sets out particular considerations when drafting certain common types of contractual joint venture agreements. For general considerations see Practice Note: Drafting a contractual joint venture agreement.

Consortium bids

Parties' obligations

The main obligation of each participant is to provide a fully detailed and costed bid on its particular part of the project by a specified date, in accordance with the third-party client's requirements or with the criteria specified by the bid agreement. The parties usually then agree to ensure the bid is submitted by a certain deadline. The client may well wish to have certain parts of the bid further clarified, so each consortium member is usually contractually obliged to provide any supplementary information that may be required by it.

It is not unknown for a client to change the specifications of a project during the tendering process and this may require amendments to the original bid. However, no member of a consortium would want to have any part of a bid altered without full discussion, so agreements commonly prohibit any participant from changing a bid without the consent of all the participants.

Before the parties to a consortium enter into a bid agreement, in preliminary discussions they may well reveal sensitive information about their commercial activities. It is usual, therefore, for consortium members to agree not to misuse

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