Joint Ventures

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Surprisingly, one of the my most popular posts was about creating joint ventures to bid on public projects. Since I wrote that post, it has become more and more common for construction companies to team up to bid on public projects.

When forming a joint venture, it very important to have a written joint-venture agreement between the contractors teaming up to bid on a project. Here are five provisions that should be included in every construction joint-venture agreement.…

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Many construction projects are getting larger and more complex. This is especially true for public-works projects. Joint ventures allow one or more contractors to make a combined effort to obtain and complete projects.

There can be many benefits to forming a joint venture to bid on a project. A joint venture can allow one or more contractors to spread the financial risk of a project. Joint ventures can also allow two contractors with different specialties to join forces to bid on a project that requires the experience of both contractors. Finally, a joint venture can increase the bonding capacity of contractors to allow them to bid on larger projects that may otherwise be out of reach.…

Continue Reading Creating Joint Ventures to Bid on Public Projects