Joint Venture Agreement Philippines Pdf

Joint Venture Agreement Philippines Pdf

However, in tuason vs. Bolanos [95 Phil. 106 (1954)] the Supreme Court found that, even if it does not have the authority to enter into a partnership, a company can nevertheless effectively enter into a joint enterprise contract if the nature of the business is consistent with the transaction authorized by its Charter. Such a joint venture should not be registered with the Securities and Exchange Commission (SEC) unless it results in the creation of a new company or partnership. [SEC notice of March 18, 1993] Considering that a joint venture is a particular partnership, the following characteristics are: JOINT-VENTURE AGREEMENT THIS JOINT VENTURE AGREEMENT (the “agreement”) that has been concluded from this `3` (`) and `7` from `7` to ARTICLE 1.01. The activity of the joint venture is as follows: (Describe the purpose of the transaction) 1.02 Duration of the contract. This joint venture begins on the day above and continues to exist until it is terminated, liquidated or dissolved by law or as provided below. ARTICLE II GENERAL DEFINITIONS The following provisions include the general definitions of the terms used in this agreement: 2.01 Affiliate. An affiliate of an entity is a person who, directly or indirectly, is controlled by one or more intermediaries, controlled or controlled by such an entity. 2.02 Contributions to capital. The actual capital contribution made by the parties in the joint venture, including any in-kind, cash and additional capital contributions.

2.03 Gains and losses. All income or losses of the partnership for federal income tax purposes, determined by the exercise of the partnership, including, but not limited, to each element of the partnership`s income, benefit, loss or deduction. ARTICLE III OBLIGATIONS OF THE ACOMPOS – is responsible for all operations and decisions of the joint venture and is compensated for the provision of services. ARTICLE IV ALLOCATIONS 4.01 Gains and losses. From the date of this transaction and with the termination of the joint venture`s activities, all profits, losses and other allowances to the joint venture are distributed as follows at the beginning of each fiscal year: . . ________(9)_________% _____________ . . . . . .

. . . As part of these measures, each measure is the action of the joint venture and serves as a link. Must not do the trick of the joint venture


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