Construction Project Consortium Agreement

However, an employer can be pragmatic and agree to pay directly to the bank accounts of each of the unionized partners. As far as joint and several liability is concerned, this does not entail additional exposure and makes life easier for the contractor. The money will be faster available to the parties, without wasting time with additional bank transfers. A registered joint venture is indeed a new legal person, although temporary, set up by the parties for the implementation of that specific project. If one party is late, the other consortium or JV partner must find a replacement unit. Or, in another way, list all the works. On this point at least, the situation is the same for both solutions! A JV is set up with the entire project team, including support functions such as human resources. The JV can “buy/lease” resources from unionized partners or third parties. .

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