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Builder Joint Venture Agreement
"I need a Builder Joint Venture Agreement for a residential project in Mumbai where my company will contribute construction expertise and capital, while the other party is contributing a 5-acre land parcel; the project is scheduled to commence in March 2025."
1. Parties: Details of the builder/developer and joint venture partner(s), including registration numbers and RERA IDs
2. Background: Context of the joint venture, including project overview and parties' expertise
3. Definitions and Interpretation: Definitions of key terms and rules of interpretation
4. Project Details: Comprehensive description of the construction project, including location, scope, and specifications
5. Contributions of Parties: Detailed breakdown of what each party brings to the venture (land, capital, expertise, etc.)
6. Roles and Responsibilities: Specific duties and obligations of each party in the project
7. Project Management: Structure and processes for managing the project, including decision-making mechanisms
8. Financial Terms: Investment details, profit sharing ratios, expense allocation, and accounting procedures
9. Construction Timeline: Project schedule, milestones, and completion deadlines
10. Regulatory Compliance: Obligations regarding RERA, environmental, and other regulatory requirements
11. Representations and Warranties: Standard and specific warranties given by each party
12. Term and Termination: Duration of agreement and circumstances for termination
13. Dispute Resolution: Mechanism for resolving disputes, including arbitration provisions
14. Force Majeure: Provisions for handling unforeseen circumstances
15. Confidentiality: Protection of confidential information and trade secrets
16. Governing Law and Jurisdiction: Applicable law and courts having jurisdiction
17. Miscellaneous: Standard boilerplate clauses including notices, amendments, and severability
1. Bank Account Operations: Detailed procedures for operating joint venture bank accounts, required if separate accounts are maintained
2. Marketing and Branding: Terms for project marketing and brand usage, needed if significant marketing activities are planned
3. Insurance: Specific insurance requirements and cost allocation, if not covered under general responsibilities
4. Intellectual Property Rights: IP ownership and usage rights, needed if significant IP is involved
5. Non-Compete: Restrictions on competing projects, optional based on business requirements
6. Exit Mechanism: Detailed procedures for party exit or project transfer, if not covered in main termination clause
7. Employee Matters: Terms regarding shared employees or contractors, if applicable
8. Environmental Management: Detailed environmental compliance procedures, if project has significant environmental impact
1. Schedule 1 - Property Details: Legal description of land, title documents, and encumbrances
2. Schedule 2 - Project Specifications: Detailed architectural plans, construction specifications, and amenities
3. Schedule 3 - Financial Model: Detailed financial projections, cost estimates, and profit sharing calculations
4. Schedule 4 - Construction Schedule: Detailed timeline with milestones and completion dates
5. Schedule 5 - Contributions Schedule: Detailed breakdown of each party's contributions with timelines
6. Schedule 6 - Required Approvals: List of all required regulatory approvals and permits
7. Schedule 7 - Management Structure: Organizational chart and decision-making procedures
8. Appendix A - Power of Attorney: Format of power of attorney for project execution
9. Appendix B - Bank Account Details: Details of project bank accounts and authorized signatories
Authors
Real Estate Development
Construction
Infrastructure Development
Commercial Property Development
Residential Property Development
Mixed-use Development
Urban Planning
Industrial Construction
Hospitality Construction
Retail Development
Legal
Real Estate
Construction
Project Management
Business Development
Finance
Compliance
Operations
Risk Management
Property Development
Commercial
Investment
Planning
Architecture
Joint Venture Management
Chief Executive Officer
Managing Director
Development Director
Construction Manager
Project Manager
Legal Counsel
Chief Financial Officer
Land Acquisition Manager
Business Development Manager
Contract Manager
Risk Manager
Compliance Officer
Property Development Manager
Joint Venture Manager
Real Estate Director
Investment Manager
Operations Director
Planning Manager
Architecture Manager
Commercial Director
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