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What is a Joint Bid Agreement?
With a Joint Bid Agreement, you can set up a business arrangement in which you double the knowledge, and double the skills. You can formalize this working relationship with this document, such as the respective responsibilities, how payment will be made, and other key details. One of the advantages of this kind of partnership is that liabilities and responsibilities are made clear, and no single contractor is less invested in the project, as is sometimes the case when a subcontractor is hired to complete portions of a project. You can use a Joint Bid Agreement to spell out the specific parameters of your partnership so that you can get to work, together, on a project you might miss out on if bidding alone.
When to use a Joint Bid Agreement:
- You want to bid on a project with another contractor.
- Your company often invites bids from joint contractors.