Pre Incorporation Contracts

 Some Pre Incorporation Contracts are Joint Venture Agreement, Partnership Agreement, Shareholders Agreement etc

But today, we will discuss a little about Joint Venture Agreement and Draft one. 

Joint Venture Agreement is an agreement between two or more parties, usually companies or businesses, to work on a specific project, while still remaining independent entities. 

How to draft a JVA 

THIS JOINT VENTURE AGREEMENT MADE, this __ day of __, 202__,

BETWEEN 

JAX Nig Limited a registered company, incorporated under the Companies and Allied Matters Act 2020, with RC No: ____

AND

Leeds Int. a registered company, incorporated under the Companies and Allied Matters Act 2020, with RC No:___

The Parties hereby agree to form a Joint Venture, under the Name; JALEE INDUSTRIES for the purpose of importing and exporting technological products in Nigeria. 

The Parties agrees that their initial capital contribution is essential for operation of the Joint Venture. The Mode and list of what to be contributed and the ownership of interest are contained in the 1st Schedule to this document.

This Agreement shall commence on the date above and continue until terminated by either Party. A Party may terminate this Agreement upon '21 days’ written notice if:

a. The Joint Venture becomes insolvent or unlawful,

b. The other party materially breaches the agreement.

The Parties agree to keep confidential all proprietary or sensitive information obtained during the Joint Venture, except as required by law or with prior written consent.

This Agreement shall be governed by and construed in accordance with the laws of the Federal Republic of Nigeria.

Any dispute arising out of this agreement, between the parties, shall be submitted to an arbitration panel in Nigeria, in accordance with the Arbitration and Mediation Act 2024, or any other re-enactment, modifications, or extension of such Act.

IN WITNESS WHEREOF, the Parties hereto have executed this Joint Venture Agreement as of the date first written above.

Signed by the within named party

_______________.               _____________

Director                            Director 

Jax Nig Limited 

In the Presence of:

Name:__________

Address:_________

Occupation:________

Signature:_________


Signed by the within named party

_________________.                ________________

Director.                                Director 

Leeds Int.

In the Presence of:

Name:__________

Address:_________

Occupation:________

Signature:_________



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