Set up a business arrangement for a joint bid: Joint Bid Agreement
Other Names:
Teaming Agreement
What is a Joint Bid Agreement?
Are you and another construction contractor about to team up and bid on a joint project as general contractors? You can use a Joint Bid Agreement to put this partnership in writing. It is a legal document entered into by two or more contractors, who jointly bid to perform together on a specific construction project. A Joint Bid Agreement can be helpful for for a contractor who specialize in one skillset, and wants to work with another specialist to complete a project.
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.
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.
Sample Joint Bid Agreement
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Joint Bid Agreement
This Agreement is made on by of , , and of , , hereby agreeing to prepare and submit to , , , a joint bid to perform, as General Contractors, the contract for construction of as described in the Invitation for Bids dated . This agreement is subject to the following terms and conditions:
| 1. | A joint bid will not be submitted by the General Contractors unless: |
| a. | The amount and terms of the bid are agreed on by General Contractors. |
| b. | The Bid Bond required to be submitted with the bid has been obtained by General Contractors. |
| c. | General Contractors have obtained binding commitments to issue to General Contractors all other bonds required to be posted under the contract. |
| 2. | Each of the General Contractors will jointly and severally execute the Bid Bond and any indemnity agreement required to obtain the bond. |
| 3. | If the contract is awarded to General Contractors, the General Contractors will: |
| a. | Execute a Joint Venture Agreement for the construction of the project. |
| b. | Each jointly and severally execute the contract, all bonds required by the contract,and all indemnity agreements required for the issuance of the bonds. |
| 4. | All costs incurred by either of General Contractors in preparing the bid will be borne by the party incurring the cost. |
| 5. | All negotiations with Owner or Owner's Architect occurring after our joint bid have been submitted will be conducted by General Contractors jointly. |
| 6. | Either General Contractor without liability to the other may withdraw from this Agreement at any time before a joint bid is actually submitted by General Contractors pursuant to this Agreement. |
| 7. | Should either General Contractor withdraw from this Agreement prior to the time a joint bid is submitted by General Contractor, the other party to this Agreement may, without liability to the withdrawing party, submit a bid for the contract either alone or jointly with another person or firm. |
This Joint Bid Agreement is executed and agreed to on behalf of by , , and on behalf of by , its . The Joint Bid Agreement is effective when signed.
| By: | Date: |
, its
| By: | Date: |
, its
