Contratos joint venture

International Trade Centre

Trade law series
ITC Incorporated Joint Venture Model Agreements

Geneva 2005

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ABSTRACT FOR TRADE INFORMATION SERVICES
2005 F-05.06 ITC

INTERNATIONAL TRADE CENTRE UNCTAD/WTO ITC Incorporated Joint Venture Model Agreements Geneva: ITC, 2005. vii, 129 p. (Trade Law Series) Set of model agreements laying down the provisions for joint venture parties,prior to creating a joint venture company – sets out the arrangements for the formation of new jointly owned companies and their operation. Descriptors: Contracts, Joint Ventures, Commercial Law.

English, French, Spanish (separate editions) ITC, Palais des Nations, 1211 Geneva 10, Switzerland

The designations employed and the presentation of material in this publication do not imply theexpression of any opinion whatsoever on the part of the International Trade Centre UNCTAD/WTO concerning the legal status of any country, territory, city or area or of its authorities, or concerning the delimitation of its frontiers or boundaries.

Digital image on the cover: © Illustration Works © International Trade Centre UNCTAD/WTO 2005

All rights reserved. No part of this publication may bereproduced, stored in a retrieval system or transmitted in any form or by any means, electronic, electrostatic, magnetic tape, mechanical, photocopying or otherwise, without prior permission in writing from the International Trade Centre.

ITC/P190.E/TSS/BAS/05-IV

ISBN 92-9137-302-8 United Nations Sales No. E.05.III.T.7

Foreword
It is our pleasure to introduce the text of the firstgenuinely international incorporated joint venture model agreements, following the publication in 2004 of the ITC Contractual Joint Venture Model Agreements. An international joint venture is a structured cooperation between two or more companies from different countries in which the members combine some of their resources for a common undertaking while remaining economically independent. The ITCIncorporated Joint Venture Model Agreements are the result of a meeting of minds of experienced practitioners from some fifty countries representing the widest possible spectrum of economic backgrounds and legal cultures. Their knowledge has been built upon the cumulative experience of joint venture agreements, which since the 1950s have gradually evolved into a typical form of cooperation betweencompanies. This sizeable experience was crucial in generating contractual provisions that could be understood, accepted and applied universally. The model agreements therefore do not merely reflect compromise solutions in which participants often get what none of them wanted. Instead, they reflect tested, workable, options. International trade rules are becoming exceedingly complex and refined. Thissophistication is in stark contrast with the demand for harmonization of rules and processes on behalf of hundreds of thousands of small and medium-sized enterprises entering into the international arena. Fair, balanced and workable cross-border norms are in high demand in all sectors of trade. The ITC Incorporated Joint Venture Model Agreements present these features and therefore will certainly bewidely used. Finally, we feel that it is fitting to record here that this work was done by the Committee members essentially on a pro-bono basis, in the form of significant contributions of time, travel and other costs. This can be seen as an expression of their trust in the pertinence of creating harmonized and balanced contractual standards to facilitate and inject as much fairness as possibleinto world trade.

Professor Pierre Lalive

J. Denis Bélisle Executive Director International Trade Centre

Acknowledgements
The model agreements and user’s guides are the work of the International Trade Centre (ITC) Pro-bono Committee on Joint Venture Model Contracts. ITC wishes to acknowledge with deep gratitude the dedication of all members of this Committee.

ITC Pro-bono Committee...