Using Joint Ventures in Construction Contracts - Exploring the Benefits & Risks
In the world of commercial construction contracts, there are lots of different ‘players’ whose contributions make or break a project’s success. In an increasingly global environment, seeking partners to help in delivery, or for strategic gains, has never been more important. Identifying how to get projects off to a solid start, in order to ensure their smooth progress and assured outcomes, relies on many participants, stakeholders and allies. Too many projects don’t go well or as expected, or even fail, and this can often be traced back to the contract network set up.
One way to tackle this, which is gaining pace, is through the use of joint ventures. From the casual one-off, through to strategic alliances and out to full-scale legal partnering - and everything in between - post-COVID recovery growth depends on getting to grips with new ways of contracting and understanding potential benefits and pitfalls.
Over 2 hours, this virtual classroom seminar will explore the spectrum of contracting using JVs, and their potential benefits. It will investigate the opportunities and risks of different JVs types.
It will also look at the attractiveness of JVs within a built environment world where a more co-operative contracting atmosphere is expected (or mandated). We will look at key topics for JVs such as payment, performance, quality, and long-term liability. We will discuss how to populate a JV to enable it to ‘get to work’ and highlight the contract tools and processes such as project charters and teaming agreements to boost its effectiveness.
We will wrap up with a summary of takeaways and actions.
What You Will Learn
This live broadcast will cover the following:
- What is a JV and what different types exist?
- Commercial construction contracts: Buy/Sell and what’s not working, and how JVs can help
- Opportunities and challenges to being in a JV
- Key areas of interest to JVs: payment, performance, quality and long-term liability
- Populating a JV ready for action
- Contract tools and processes which can help JVs to be effective
- Summary of key takeaways
Recording of live sessions: Soon after the Learn Live session has taken place you will be able to go back and access the recording - should you wish to revisit the material discussed.