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Construction Industry Development Board Act, 2000 (Act No. 38 of 2000)

Board Notices

Construction Procurement Best Practice

7. Joint Venture Arrangements

 

Joint ventures may be formed for a variety of reasons, common ones being the following:

• The project is too large, or complex, for a company to undertake with its available resources.
• The project requires specialist skills, or abilities, which a company is unable, itself, to provide.
• The skills and expertise of emerging firms can be developed through their association in joint ventures with well-established experienced companies.

 

➢ CIDB Construction Procurement Best Practice Guideline D2 (1013), Joint venture arrangements, describes desirable and appropriate joint venturing practice, particularly where joint ventures are formed in response to preferential procurement policies. It also identifies standard industry joint venture agreements.