Joint Venture Agreement

Joint Venture Agreement

On this {date}, {First Party} and {Second Party}, hereafter known collectively as “Members,” do hereby agree to enter jointly into a venture in which risk and responsibility will be shared, as is described below. This contract will be executed and considered binding on {date}.

It is understood that Members are able to enter into this agreement by the laws of {state}, and that no party has any knowledge of interfering conditions. To the best of their knowledge, Members claim their freedom to enter into these agreements and to meet all the conditions below.

The venture to be formed will be called {Name}. It will be formed to conduct the following business: {List business purpose explicitly}. Certain matters concerning the nature of this purpose have been discussed by the Members, and it has been agreed that the method by which this business will be conducted will be {describe how business will be accomplished}.

Risks and responsibilities in this venture will be shared. It has been agreed that {list responsibilities of each member}. Each member will contribute financially to this venture by {explain what duties each member has to the venture}. Payment will be furnished by {explain how payment will be managed, and by whom}.

Management of this venture will be shared between the members. Executive decisions will be distributed as follows: {describe how decision-making will be managed}.

Additionally, the following clauses apply:

• {First Clause}
• {Second Clause}
• {Third Clause}

This document has been read and its signing witnessed by two witnesses, whose statements lie below. By signing this document, all parties agree to all statements held therein.

I, ____________________, on this date of _______________, bear witness to this joint venture agreement. I am over the age of 18 and legally capable of bearing witness to this agreement.

I, ____________________, on this date of _______________, bear witness to this joint venture agreement. I am over the age of 18 and legally capable of bearing witness to this agreement.

(First Party)		(Date)
(Second Party)		(Date)