C101 Joint Venture Agreement For Professional Srevices

Article number: C101
Availability: In stock

AIA Document C101™–1993 is intended for use by two or more parties to provide for their mutual rights and obligations in forming a joint venture. It is intended that the joint venture, once established, will enter into an agreement with the owner to provide professional services. The parties may be all architects, all engineers, a combination of architects and engineers, or another combination of professionals. The document provides a choice between two methods of joint venture operation. The “division of compensation” method assumes that services provided and the compensation received will be divided among the parties in the proportions agreed to at the outset of the project. Each party’s profitability is then dependent on individual performance of pre-assigned tasks and is not directly tied to that of the other parties. The “division of profit and loss” method is based on each party performing work and billing the joint venture at cost plus a nominal amount for overhead. The ultimate profit or loss of the joint venture is divided between or among the parties at completion of the project, based on their respective interests.

When to use
•Large project
•Joint ventures
•Individual professional entities forming single entity for a project

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