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Fidic Joint Venture (Consortium) Agreement (First Edition 1992)

General - There are many questions regarding the conclusion of agreements by consultants that are discussed in FIDIC`s white paper guide and that are relevant to the realization of a joint venture (consortium). For example, each member of the JV is generally jointly and severally liable for the provision of services under the main service contract with the customer and for any breach of that contract. The Joint Undertaking cannot act in a legal manner (or binding on all members of the Joint Undertaking) if there is no one to represent it. The normal legal approach is for members to act together on behalf of the Joint Undertaking. The natural result is that unanimity is necessary. It`s not really a practical approach. Copyright FIDIC 1992 Fdration Internationale des Ingnieurs-Conseils (FIDIC) Boîte postale 311 All rights reserved. CH-1215 Geneva 15 No part of this Swiss publication may be reproduced without e-mail permission of the publisher or by fax +41 22 799 49 01 or by e-mail WWW The new joint venture agreement has been developed for non-legally viable joint ventures in which a business JV is a consultant under a service agreement such as the White Paper. Majority decisions are not permitted. Decisions on the policy of the Joint Undertaking shall be entrusted to a Committee of Principles composed of the representative of each Member. In the event of disagreement between the members of the Commission of Principles on matters not prescribed differently by this Agreement, the Chairman shall have the right to use the decisive vote.