Construction Joint Venture Agreements

A Joint Venture Agreement, in the context of the construction sector, is a contract between two or more parties who come together to undertake a construction project.  The contract sets out the terms on which the parties will contribute to and enjoy the benefit of the joint venture.  This will include specific responsibilities, the allocation of resources, the sharing of profits and losses, and the management of the project.  We have deep experience of drafting and negotiating Joint Venture Agreements.

It is important to remember that a party to a Joint Venture Agreement will have separate interests to protect within the document.  Each party will want to place risk on others and maximise their return.  It therefore makes sense that each party should take legal advice on the Joint Venture Agreement that they are entering into.

Some of the key provisions that may be included in a Joint Venture Agreement include:

1. Project scope and programme – including the specific scope of works and the timeline for completion.
2. Resource allocation – how the resources required for the project will be allocated by and among the parties, including funds, plant & machinery and labour.
3. Profit and loss sharing – how profit and losses will be shared among the parties, including the percentage of profit that will be enjoyed by each party and how any expenses will be reimbursed.
4. Risk allocation – outlining how risks will be shared among the parties, including, delay and disputes with third parties.
5. Project management – how the project will be managed, including the respective roles of the Joint Venture parties and the decision-making process.
6. Dispute resolution – the mechanics by which the disputes between the Joint Venture parties will be resolved and what happens if there is a stalemate.

Get in touch

Get in touch using the contact form below, calling us on 0204 579 8686 or emailing us at contactus@ridgemont.co. 

We are experienced at drafting and negotiating comprehensive, pragmatic Joint Venture Agreements.  We regularly act for Landowners, Contractors, Sub-Contractors, Investors and other parties to Joint Venture Agreements.  Get in touch if you would like to discuss a project that you would like to progress.

Why Ridgemont?

Ridgemont’s team is made up of expert senior solicitors, all of whom previously worked in “Big Law” (i.e. the top 50 law firms in the UK).

We provide bespoke advice tailored to your needs.  Our advice is commercial and pragmatic, enabling you to use it effectively to make business decisions.

We have an expert understanding of construction law. We can guide you through the maze of construction joint venture agreements. 

We are user-friendly.  Our lawyers speak in plain English, providing service levels akin to “Big Law”. We have built our processes to make onboarding as pain-free as possible. Our fee earner structure means that you have access to a partner-level solicitor at all times and they will always be on top of your matter.

We operate our business in an ethical way.  That means we think about what the “right thing to do” is when making a business decision.  As an example, we do not charge a default unit of time for incoming emails or letters as we think we ought to be paid for work done, not for merely receiving correspondence. We are also open and transparent on what we charge, meaning our clients never receive a surprising invoice.

We provide “Big Law” service levels and quality of advice, with expert senior solicitors providing commercial, pragmatic advice. Necessarily, that does not come cheap as we have to invest in great lawyers and everything they need to do their job. However, due to us having comparatively lower overheads to “Big Law” firms, we are able to charge less than they would for providing the same service levels and advice.

We are proactive in finding innovative ways to advise our clients in a cost proportionate way.

Who we act for?

We act for developers, contractors, sub-contractors, professionals and investors across a range of sectors from residential to retail.

Your journey with us

1. Get in touch using the contact form below, calling us on 0203 909 9590 or emailing us at contactus@ridgemont.co
2. We guarantee that we will be in touch with you the same day to listen to your needs and to explain how we can help and the likely cost.
3. Assuming you wish to engage us, we will then onboard you as a client, which normally takes a matter of hours.
4. From there, you will be assigned an experienced solicitor who will have conduct of your matter from cradle to grave and be available to speak to you and responsive to emails at every juncture.

You can learn more about our journey by watching these videos.