A Lorman Education Webinar. CPD Credit Approved! Discounted registration available for AIC Members.
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From massive solar plants, to federal and state roadways, to multi-billion-dollar sports arenas, to residential subdivisions, joint venture agreements are becoming the norm in construction. Many contractors building large and small projects have identified more advantages than risks in partnering with their competitors in joint ventures. This live webinar will inform you about the advantages, disadvantages and risks associated with joint venture agreements in today's hyper-technical and fast-paced construction industry. The webinar will also focus on how public and private owners increasingly see a better project delivery model in contractors pursuing collaborative rather than competitive objectives. The common-sense behind joint venture agreements also leads contractors to access new opportunities, qualifications, expertise and resources, most of which they would not have access to without a joint venture agreement. This live webinar will include a discussion about how joint venture agreements correspondingly offer more creative ways of sharing risk and profit on construction projects. In addition, the webinar will provide examples of some essential terms used in joint venture agreements and litigation that may inevitably arise from any uncertainties in the governing contracts or general conditions. Finally, you will hear recent success stories from joint venture construction projects throughout the United States and how contractors have shaped their joint venture agreements to succeed.
- You will be able to recognize joint venture agreements from more traditional agreements for delivery of construction projects to owners.
- You will be able to describe the advantages and disadvantages of partnering with another contractor in a joint venture to pursue common interests and goals on a project.
- You will be able to identify the liability risks and protections afforded to joint venture contractors.
- You will be able to explain how to draft and incorporate critical provisions in joint venture agreements for construction projects