JOINT VEMTURE AGREEMENT

 

D.R.K. / Bahing J/V

 

JOINT VEMTURE AGREEMENT

This AGREEMENT is made on March 1^st  2021 by and between M/S D.R.K. Construction Registered office at Choudandigadhi Municipality, Udayapur, Nepal (herein after called   "lead partner" ) and Bahing Construction Pvt. Ltd. registered office at Dharan sub-metropolitan, sunsari, Nepal ( herein after called Partner)

Whereas Local Government, Choudandigadhi municipality , Udayapur (gereub after caked "the Employer") has invited the bid for Construction work of ventilated causeway, compound wall, guard house and access road for Dhauri park and solid waste management project. Contract No: 04/BELAKA/NCB/W/2077-078 (herein after called "the works").

NOW WE UNDERSTAND, Responsible and authorized representatives of the "joint venture partners" namely partner in charge and partners DO AGREE as follows:

1.       The purpose of the joint venture agreement is to supplement and enhance the technical, financial and administrative capability of the joint venture partners in order to successfully participate in the bidding process and to enter into contract agreement and execution of the work, in case of the contract is awarded.

2.       The application for bid shall be submitted in the name of joint venture, which shall be as follows: D.R.K./Bahing J.V. office Udayapur, Nepal. Contact Number 9852835119, 9842053633 all correspondence documents shall be addressed in this name.

3.       The ratio of participation of each individual joint venturing expressed, as percentage of total contract value shall be follows:

a.        Lead partner ( D.R.K. construction ) 50

b.       Partner ( Bahing construction) 50

4.       The lead partner shall have the exclusive authority to deal with the employers and incur liabilities and receive payments and incur expanses, and shall be overall responsible for the entire execution of the contract.

5.       This agreement will come into force the date of signing of this agreement and shall be enforced till the date of issuance of the certificates of completion, in case this contract is awarded to the joint venture.

 

Witness wwhere of, the parties there o have caused this agreement to executed the day and year before on.

 

D.R.K. Construction                                                                                                                              Bahing Construction              Pro : Govinda Prashad Khatiwoda                                                                                                           Pro:       Mahesh Rai