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HOW IT WORKS
How it works
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.
Other names for this document: Teaming Agreement
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